Shiba Inu On-Chain Sending Address Spikes Over 200% In One Day

While the broader crypto market remains bearish, Shiba Inu recently flashed a notable on-chain signal that has captured the attention of market observers.

Earlier this month, on December 4, the number of Shiba Inu active sending addresses surged to roughly 9,900 in a single day, representing a sharp 223% increase from the previous day’s count of 3,066.

This spike is particularly significant given the current market conditions. Typically, quiet or compressed markets like today’s do not produce such dramatic increases. Historically, moves of this magnitude tend to occur when traders reposition ahead of shifts in market dynamics or when investors adjust holdings in anticipation of rising volatility.

The active sending address metric tracks how frequently holders move tokens out of their wallets rather than leaving them idle. Spikes in this metric usually indicate either redistribution across wallets or profit-taking.

Not Profit-Taking

Profit-taking appears unlikely in this instance, as Shiba Inu did not experience notable price volatility on December 4. According to CoinMarketCap, SHIB opened the day at $0.000008995 and closed at $0.000008721—a modest change.

This suggests that the surge in active addresses points to redistribution rather than mass sell-offs. Supporting this view is the recent massive withdrawal of SHIB tokens from exchanges.

The Crypto Basic reported that investors pulled roughly 8 trillion tokens off exchanges within a day on December 9. Of the total withdrawal, one large investor withdrew 2.2 trillion SHIB across six transactions from Coinbase.

These movements indicate investors appear to be redistributing SHIB between wallets and transferring holdings off centralized platforms.

SHIB Exchange Inflows Remain Lower Than Outflows

At the same time, Shiba Inu has also seen an increase in exchange inflows, according to Santiment data. The analytics firm reported on December 9 that the number of SHIB transactions valued at $100,000 or more surged to 406, up 712% from the June 6 low of 50.

During this period, Santiment noted that exchange reserves rose by 1.06 trillion SHIB, bringing the total to 136.95 trillion tokens.

However, despite this inflow, the volume of SHIB sent to exchanges remains far below the roughly 8 trillion tokens withdrawn on December 9. This imbalance reinforces the view that the heightened sending activity reflects redistribution rather than preparation for liquidation.