Shiba Inu Whales Continue Exchange Outflows: SHIB Rally Soon?

Shiba Inu Whales Continue Exchange Outflows: SHIB Rally Soon?

On-chain data shows the Shiba Inu whales have been making large outflows from exchanges recently, a sign that could be bullish for SHIB’s price.

Large Shiba Inu Exchange Wallets Have Been Losing Supply Recently

In a new post on X, the on-chain analytics firm Santiment has discussed the trend forming in the holdings of the Shiba Inu whales. The analytics firm has divided these humongous holders into two cohorts: exchange whales and non-exchange whales.

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The exchange whales refer to the 150 largest wallets on the network that are affiliated with a centralized exchange. Similarly, the non-exchange whales are the top 150 self-custodial wallets.

Below is the chart shared by Santiment, which shows how the total supply held by these groups has changed over the last

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