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20,841,045,129 SHIB tokens were moved from OKX’s hot wallet into cold storage on February 7, taking roughly $132,130 out of circulating supply. The Shiba Inu price subsequently rebounded about 22% over the weekend, reclaiming around $0.0000062 after testing support near $0.0000068.
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The move occurred amid a broad market backdrop, with the week opening down about 30% and later recovering around 22%. Market observers have speculated that the transfer could reflect exchange reserve management, plunge protection, or potential order-book restructuring rather than a direct signal about long-term sentiment.
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This transfer is noted as a rare example of token-specific divergence within a larger meme-coin sell-off, highlighting how large wallet rebalances can coincide with sharp price moves and market chatter about liquidity dynamics. The episode illustrates how reserve movements may influence short-term price action without implying a shift in fundamental sentiment.
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