IntoTheBlock, a major on-chain data analytics firm has just shared some interesting findings about the outflow of the Shiba Inu (SHIB) tokens.

The firm has highlighted that it has witnessed a massive outflow of the Shiba Inu tokens from the wallets of not just some ordinary investors but from the whales.

10 Trillion SHIB Left the Wallets

The firm reportedly shared its findings on March 12 from the data it gathered from the Shiba Inu network on March 11.

It has shared some very interesting details about the movement of an unimaginable number of SHIB tokens. The movement was recorded from the wallets of the whales.

The firm revealed that the most surprising part is that the SHIB tokens did not enter the wallets of the whales. They witnessed a completely opposite phenomenon, where the SHIB tokens were seen leaving their wallets.

As per the IntoTheBlock findings, they did not see the tokens leaving the wallets of the whales in real time. Instead, they matched the number of the tokens that the wallets of the whales were holding a day earlier.

When they observed the number of SHIB tokens in the same wallets of the whales, they realized that the number had dropped tremendously.

This is when IntoTheBlock increased its efforts of finding out what had happened to the SHIB tokens and how many were gone.

According to IntoTheBlock’s estimation, 10 trillion SHIB tokens were missing from the whale wallets as they last checked on March 11.

A Mere Coincidence?

The analytics firm shared more findings on the SHIB token activity. They also pointed out what appears to be a coincidence, which involves the PuppNet, the beta version of the Shibarium.

Their findings revealed that the SHIB tokens left the wallets of the whales the same day Shiba Inu launched Shibarium.

However, it was the beta version of Shibarium, dubbed as “PuppyNet”. IntoTheBlock has revealed how many SHIB tokens the assets of the largest wallets currently hold.

As per their findings, the same whales have a total of 250.66 trillion SHIB tokens in their possession. They have not included the dead wallet addresses that hold trillions of SHIB but haven’t moved for a very long time.

Largest SHIB Token Holders

The analytics firm has revealed that it is just 14 of the largest whales that are in possession of the largest number of SHIB tokens.

The statistics suggest that these SHIB whales are in possession of 25.5% of the total tokens that were available at the time of ICO.

In terms of the current amount, these whales are in possession of 45.57% of the total amount of SHIB tokens. Once again, the teams at the analytics firm have excluded the addresses used for burning purposes.

The largest Whales Dump SHIB while Smaller Ones Accumulate

It is worth mentioning that just when the largest whales were dumping SHIB, the smaller whales were busy accumulating the meme coins.

It seems that the smaller whales, who are still very big in terms of investments accumulated the same tokens that the largest whales were flushing out.

They noticed that 40 addresses in particular were responsible for accumulating a total of 10 trillion SHIB, which is an extremely large figure even for the smaller whales.

Following the accumulation of the 10 trillion SHIB, these wallets have pushed their overall SHIB accumulation up to 121.52 trillion SHIB.

Demand to Rise for SHIB Tokens

The firm has revealed that while they noticed the significant phenomenon, they also noticed a great level of interest among the users for Shibarium’s beta launch.

Investors have been taking a lot of interest in Shibarium, which means that the adoption of the SHIB tokens would continue rising in the future.

As the full version of the Shibarium is launched, the price movement of SHIB may spike to the highest levels.