OKX has quietly transferred a massive amount of Shiba Inu (SHIB) into cold storage, moving over 69 billion tokens off the exchange in a move that has drawn attention from traders and on-chain analysts. The transaction follows a similarly large offline transfer by Binance earlier in the week and has sparked renewed debate about exchange supply dynamics and SHIB liquidity.
OKX Moves Billions of Shiba Inu Tokens Offline
On-chain data shows that OKX shifted 69,295,881,353 SHIB from its hot wallet to a cold storage address associated with deep vault holdings. Unlike typical withdrawals by retail users, these funds remain within the exchange’s ecosystem, just moved to more secure offline custody rather than being sent to external wallets.
According to the Arkham Intelligence transaction explorer, OKX routed the tokens via the official SHIB contract (0x95a…), and the pattern of movement matches internal exchange asset consolidation rather than user withdrawals.
This OKX activity follows a prior large offline transfer by Binance, which moved 17.5 billion SHIB into cold storage earlier in the week. The proximity of both events has led some observers to wonder whether exchanges are rebalancing their SHIB holdings as part of broader operational or liquidity planning.
SHIB Price Action Reaction
Despite the scale of the transfer, the price of Shiba Inu has not reacted dramatically. Over the past 24-48 hours, the period encompassing the OKX transfer, SHIB’s price remained stable around $0.0000075. However, it has since plummeted to $0.00000725 in the hours leading up to press time, mirroring the performance of the global crypto market.
Meanwhile, some traders have pointed out that reducing the amount of SHIB available for trading could tighten perceived liquidity and potentially affect price dynamics in the medium term.
Traders will be watching key levels such as key support holding between $0.0000071 and $0.0000075, a zone that has repeatedly absorbed selling pressure. A decisive break below this range could expose SHIB to deeper downside. On the upside, SHIB faces near-term resistance around $0.0000085-$0.0000090. A sustained breakout above this area, especially with rising volume, could open the door to targets above $0.0000100.
Evans Kelvin
The CoinRemark Team
