80 Trillion SHIB Exits Exchanges as Supply Crunch Looms – Analyst Eyes 280% Shiba Inu Boost

TL;DR:

Whales have withdrawn more than 80 trillion Shiba Inu (SHIB) tokens from exchanges in the last 30 days, according to data. The dwindling exchange supply has sparked speculation about a looming supply crunch, with analysts now predicting a 280% rally to $0.

Key Points:

Background:

Crypto whales are individuals or entities that hold large amounts of cryptocurrency. Their trading activities and wallet movements are closely monitored by the community because they can significantly influence market prices and trading patterns.

Why It Matters:

Whale movements often precede major market moves and can indicate institutional positioning or upcoming developments. Tracking whale activity helps traders and analysts understand market sentiment and potential price action, making it a crucial aspect of on-chain analysis.