Shiba Inu Whales Pull 80 Trillion SHIB From Exchanges as Analysts Eye 280% Rally

Shiba Inu is drawing renewed market attention after on-chain data revealed that whales have withdrawn more than 80 trillion SHIB tokens from centralized exchanges over the past 30 days.

The sharp reduction in exchange-held supply has fueled speculation that a supply crunch may be forming, potentially setting the stage for a significant price move.

According to data shared by market analyst TKResearch, Shiba Inu’s exchange balance has fallen sharply since early December. Exchange reserves reportedly declined from approximately 370.3 trillion SHIB to around 290.3 trillion, marking one of the largest sustained outflows in recent months.

New and Existing Wallets Drive Accumulation Trend

Notably, the withdrawals are not limited to long-established whale wallets. TKResearch highlighted that new wallets have also been aggressively accumulating SHIB, signaling expanding participation among large holders. Over the past 60 days alone, newly created wallets moved roughly 82 trillion SHIB, accounting for about 28.4% of the token’s total net circulating supply.

This shift suggests that control of SHIB’s available supply is becoming increasingly concentrated among large players. According to the research, such activity points to early signs of supply exhaustion, as a growing portion of tokens moves into wallets less likely to sell in the near term.

Falling Exchange Supply Raises Supply Shock Speculation

Exchange balances are widely viewed as a proxy for near-term selling pressure. When tokens move off exchanges, they are typically positioned for long-term holding rather than immediate trading. As SHIB’s exchange supply continues to shrink, analysts suggest that even modest increases in demand could have an outsized impact on price.

Despite recent price stagnation, the declining availability of SHIB on trading platforms has strengthened the asset’s bullish narrative, particularly if broader market sentiment improves.

Bullish Chart Pattern Signals Potential Breakout

While whale activity has intensified, SHIB’s price action has remained subdued amid reduced retail participation across the crypto market. However, technical analysts believe this phase may be nearing an end.

Market analyst Jonathan Carter recently pointed to a falling wedge pattern forming on SHIB’s long-term chart. According to his analysis, the pattern has been developing since 2024, with price now testing the upper resistance trendline. Falling wedges are commonly viewed as bullish reversal structures when confirmed by a breakout.

Analysts Target $0.000033 in Bullish Scenario

Carter noted that a decisive move above resistance could trigger a strong upside breakout. In such a scenario, SHIB could rally as high as $0.000033. Based on the token’s price of approximately $0.00000836 at the time of analysis, reaching that level would represent a gain of roughly 280%.

While confirmation is still needed, analysts suggest that the combination of shrinking exchange supply and a nearing technical breakout places Shiba Inu in a potentially favorable position if market conditions turn supportive.