Shiba Inu Investors Accumulate 512 Billion SHIB as Bullish Momentum Builds

Shiba Inu (SHIB) investors appear to be back in accumulation mode following an on-chain report of a massive 512 billion SHIB transfer, which has stirred bullish sentiment across the cryptocurrency community. The meme coin, which has struggled for much of the year, is now regaining optimism as long-term holders expand their positions.

Massive Shiba Inu Transfer Signals Renewed Bullish Activity

Data from Etherscan shows that a Kraken hot wallet transferred more than 512 billion SHIB—worth roughly $7.14 million—to an unknown address (0x95a…4C4cE). The transfer from an exchange-linked hot wallet to a potential cold storage wallet suggests that investors are shifting their holdings for long-term storage rather than short-term trading.

Following the transaction, the receiving wallet became the 38th-largest Shiba Inu holder. On-chain data also suggests that the address may belong to Kraken’s cold storage wallet, which holds the exchange’s reserves. 

Since the initial deposit, the wallet’s SHIB balance has grown to about 1.47 trillion tokens worth $19.28 million, reinforcing the view that major investors continue to accumulate.

This trend aligns with the broader market pattern, where SHIB outflows from exchanges exceed inflows. On September 15, roughly 181.87 billion Shiba Inu were withdrawn from exchanges, while only 87.37 billion were deposited.

Essentially, this net outflow underscores investors’ confidence, as removing tokens from exchanges is often viewed as a sign of accumulation and long-term belief in the asset’s potential.

Investors Eye Potential Price Upside

Despite the positive accumulation signals, SHIB has fallen nearly 40% year-to-date—trading around $0.00001247, up nearly 1% in the past 24 hours. 

Here are other key trends to note:

• Market Sentiment: Shiba Inu’s price outlook remains bearish, even as the broader market shows greed with a Fear & Greed Index reading of 71.
• Performance: The token has declined 29% over the past year, lagging behind most major cryptocurrencies.
• Comparative Returns: SHIB has been outperformed by 95% of the top 100 crypto assets, including Bitcoin and Ethereum.
• Technical Position: The price continues to trade below the 200-day simple moving average, signaling weak long-term momentum.
• Historical Context: Shiba Inu is currently down 86% from its all-time high, highlighting the depth of its extended correction.

Some analysts, however, believe the current weakness could present a buying opportunity. Crypto analyst Javon Marks projects that Shiba Inu could rally nearly 600% from current levels, targeting $0.000081. He noted that technical indicators—such as a bullish divergence in the MACD histogram—support the likelihood of a strong upward move.

Strengthening Fundamentals Support the Shiba Inu Outlook

Beyond technical factors, developments within the Shiba Inu ecosystem further strengthen the bullish outlook. The upcoming LEASH v2 migration and recent ShibaSwap upgrade, introducing cross-chain functionality, enhance the token’s utility and long-term appeal.

If accumulation persists and network fundamentals improve, Shiba Inu may be setting the stage for a price rebound after months of underperformance.