Recently, a large amount of SHIB tokens, specifically 10 billion, was withdrawn from Binance's hot wallet, attracting attention from analysts and investors. This withdrawal occurred in three transactions with the first one comprising over 9 billion SHIB.
Massive SHIB Withdrawal from Binance
Yesterday, a total of 10,003,000,000 SHIB was withdrawn from Binance's hot wallet to a new address. The transaction was split into three parts: the first part accounted for over 9 billion SHIB worth about $116,000, the second was nearly 1 billion worth $12,900, and the last was just 189,000 SHIB, equivalent to $2.
Current SHIB Price and Resistance Levels
Currently, SHIB is priced at $0.00001284, maintaining a base just above $0.00001107. Resistance levels are positioned at $0.00001698, $0.00002000-$0.00002500, and the old cap at $0.00002970. This range has contained the token for several months, and any real breakout will need to overcome these lines.
Historical SHIB Dynamics in September
Historically, September has been one of the best months for SHIB, averaging a +8.2% increase. In 2021, it was September that sparked the notable rise leading to an impressive +833% increase in October. Even during downturns, September often displayed positive movement after summer slumps, making the current SHIB activity during this timeframe interesting to observe.
Thus, while the withdrawal of 10 billion SHIB may not be shocking given the overall market dynamics, its connection to September and potential bullish activity could be significant for the future price movement.
