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OKX has transferred more than 110 billion Shiba Inu tokens from its cold wallet to a hot wallet as the token stages a modest price recovery.
OKX Moves 110 Billion $SHIB to Hot Wallet
According to Arkham data, OKX moved 110,779,994,032 $SHIB tokens, worth roughly $615,000 at the current price, from its cold wallet to its hot wallet at 03:09 UTC today.
Typically, crypto exchanges move assets from cold storage to hot wallets to make them more accessible for transactions, including customer withdrawals.
Therefore, the latest transfer could indicate that OKX is preparing additional $SHIB liquidity to process withdrawal requests. However, the movement alone does not confirm that users are withdrawing their tokens.
Meanwhile, Arkham data shows that OKX’s hot wallet received several $SHIB transfers over the past day, including 12.68 billion $SHIB. The wallet subsequently transferred 20.59 billion $SHIB to another OKX hot wallet. It also sent 116.56 million $SHIB and 3.33 million $SHIB to two separate unlabeled addresses.
Despite these transactions, the OKX hot wallet still holds approximately 205.68 billion $SHIB, leaving a substantial balance available for potential withdrawals and other exchange operations.
Meanwhile, OKX’s cold wallet remains one of the largest known $SHIB-holding addresses. According to Etherscan data, the address ranks as the 10th-largest $SHIB holder, with approximately 6.70 trillion $SHIB. Consequently, the latest transfer represents only a small portion of OKX’s overall $SHIB holdings.
$SHIB Price Recovers Above $0.0000056
The wallet movements occurred as Shiba Inu posted a modest market recovery. $SHIB has gained 3.92% over the past 24 hours, climbing above the psychologically significant $0.0000055 level. At press time, the token traded at $0.00000563.
However, exchange data also points to increased $SHIB movement onto trading platforms.
Over the past 24 hours, 242.46 billion $SHIB flowed into exchanges, while 105.4564 billion $SHIB flowed out. As a result, $SHIB recorded a net exchange inflow of roughly 137.008 billion tokens. Consequently, the amount of $SHIB held on exchanges has increased to approximately 87.5594 trillion tokens.
Overall, OKX’s large wallet transfer and the broader exchange inflows point to increased $SHIB movement across trading platforms. However, these transactions alone do not establish whether holders intend to sell, withdraw, or otherwise move their tokens.