Data from CryptoQuant shows a sudden rise in SHIB reserves on exchanges, but large holders quickly pulled back significant amounts, stabilizing market sentiment.
CryptoQuant data indicates that Shiba Inu (SHIB) reserves on cryptocurrency exchanges surged sharply, rising from 80.93 trillion on February 27 to 81.06 trillion on February 28. This spike amounted to roughly 126 billion SHIB tokens being moved onto trading platforms. Despite initial concerns over potential sell pressure, large investors — often referred to as whales — withdrew substantial quantities from exchanges soon after, suggesting confidence among major holders and limiting downward momentum in SHIB’s price.