Traders are withdrawing a massive amount of Shiba Inu (SHIB) tokens from exchanges, the largest withdrawal since last year. This pattern has historically preceded notable price movements and indicates investor intent to hold rather than sell, reducing sell-side pressure. The withdrawal of tokens to personal wallets could potentially trigger another rally if buying pressure continues. The SHIB/USD price chart shows a classic cup and handle formation, suggesting a potential breakout. Technical indicators point to bullish sentiments, and the upward trajectory is supported by the MVRV Z-Score and a significant reduction in supply. The price of SHIB is approaching a critical resistance level, and if it breaks past this level, it could see substantial gains. Overall, there is optimism among investors and traders for future price increases.



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