Binance, the world’s largest cryptocurrency exchange, has moved more than 3 trillion Shiba Inu tokens between its internal cold wallets.
According to data from Arkham Intelligence, Binance transferred a combined 3,098,891,481,684 (3.09 trillion) Shiba Inu in two separate transactions. Notably, the exchange executed both transfers just one minute apart, suggesting that they formed part of the same internal wallet-management operation.
The first transaction involved 1.099 trillion $SHIB, worth approximately $5.84 million, which moved from Binance’s cold wallet (0xF97…1aceC) to another Binance-controlled cold wallet (0x5a5…0Efcb).
One minute later, Binance transferred another 2 trillion $SHIB, valued at $10.62 million, between the same wallets.
Binance Enormous $SHIB Holdings
Since Binance controls both wallets, the transactions appear to reflect an internal redistribution of $SHIB rather than buying or selling activity. Exchanges commonly move assets between cold wallets when they rebalance reserves, reorganize custody arrangements, or strengthen their security infrastructure.
Following the transfers, the receiving wallet holds 37.604 trillion $SHIB, worth around $203.4 million, while the sending wallet holds about 7 trillion $SHIB, valued at approximately $37.94 million.
Currently, the receiving address ranks as the fourth-largest $SHIB holder, according to Etherscan data. Only the Robinhood-linked wallet, Upbit-linked wallet, and Shiba Inu burn address rank higher.
$SHIB Exchange Reserves Drop Below 87 Trillion
The Binance wallet shuffle comes as the amount of $SHIB held on cryptocurrency exchanges continues to decline.
Over the past 24 hours, 82.21 billion $SHIB have moved from exchanges to private wallets, according to CryptoQuant data. Consequently, total exchange reserves have fallen below the 87 trillion $SHIB threshold and now stand at 86.86 trillion tokens.
This trend could become increasingly important if demand for $SHIB rises. Sustained withdrawals reduce the amount of tokens readily available for trading on centralized exchanges, potentially creating a supply-demand imbalance if buying pressure strengthens.
However, Binance’s 3.09 trillion $SHIB transfer does not represent an exchange outflow, since the tokens remained within Binance-controlled wallets.
$SHIB Holds Weekly Gains Despite Recent Pullback
Meanwhile, Shiba Inu has given back some of its gains after the broader cryptocurrency market rally pushed the token above $0.0000061.
Nevertheless, $SHIB continues to hold much of its recent advance. The token is down about 0.57% over the past 24 hours, but it remains up 10.03% over the past week to $0.0000054. At the same time, trading activity has weakened. $SHIB’s 24-hour trading volume has declined by approximately 30.66% to $77.63 million, indicating that market participation has cooled following the recent rally.
With a market cap of $3.19 billion, Shiba Inu currently ranks as the 27th-largest cryptocurrency by market value.