Crypto Exchange Binance Sees Biggest Inflow of SHIB Tokens Since February

Binance received large amounts of shiba inu (SHIB) tokens on Tuesday, raising speculation of a price drop because large transfers of a cryptocurrency to an exchange is often a prelude to a sale.

  • The exchange registered a net inflow of over 1.8 trillion SHIB ($16 million) tokens, the highest single-day tally since Feb. 28, according to data tracked by Glassnode.
  • The tokens came from an address supposedly owned by in two transactions, each carrying 900 billion SHIB, at 12:39 UTC, according to data sourced from Dune Analytics. transferred 1.8 trillion SHIB to Binance in two transactions.
  • "So now he is going to sell part of SHIB?" on-chain researcher Lookonchain tweeted, noting the transfers.
  • Another Twitter user said he was selling SHIB at a loss because of significant inflows on Binance.
  • Early this month, revealed that it held roughly 5 trillion SHIB, worth $558 million, accounting for nearly 20% of its total reserves.
  • At press time,'s SHIB holdings accounted for 14.2% of its total reserves of $3.52 billion, according to Nansen data.
  • SHIB held steady at $0.00000925 as of writing.
At press time, held 14.2% of its reserves in meme cryptocurrency SHIB.