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ETH 
SHIB A large number of Shiba Inu coins (SHIBs) were transferred from the South Korean Exchange, triggering an abnormal phenomenon in which the holder deviates from the price.
Blockchain analysis data shows that on September 10, approximately 361 billion SHIBs were transferred from the Coinone Exchange to a single wallet address. The largest transaction involved 355.27 billion SHIBs worth approximately US$1.87 million; there were two subsequent transfers worth 4.29 billion and 1.5 billion tokens respectively.
The receiving address is not a small wallet. The total value of the crypto-assets it holds is approximately US$23.53 million, including approximately US$9.68 million of Ethereum (ETH) and US$1.22 million of ONDO tokens. Since the identity of the owner has not yet been confirmed, the transfer cannot yet be confirmed as an "accumulation" behavior. It may represent a custody structure adjustment or other non-transactional movement of funds.
What is even more remarkable is that the price trend of SHIB has hardly shown any positive performance since then. The token was trading at close to $0.0000503 at the time, falling about 2% on the day and hovering above the most important support area in 2026.
Exchange supply fell, but SHIB did not rebound
Coinone's withdrawal operations were accompanied by broader exchange balances changes. Recent capital flow data shows that approximately 438.7 billion SHIBs left the exchange, while the inflow was approximately 268.1 billion and the net outflow was approximately 170.6 billion. As a result, exchange reserves fell slightly by 0.2% to 87.23 trillion SHIBs.
Normally, fewer tokens placed on exchanges means less supply that can be sold immediately. However, SHIB prices remain weak.
This is in sharp contrast to the "exchange capital flow pressure" that occurred earlier this month, when inflows were much faster than outflows, and net supply was continuing to increase and enter trading platforms. The latest data shows that the balance of supply and demand is now tilted towards SHIB, but buyers have not yet converted lower exchange supply into driving prices.
