South Korean exchange Upbit reorganized 864 billion SHIB tokens between its internal wallet addresses. A transfer of 384 billion SHIB was made from Upbit’s hot wallet to related platform addresses, while 480 billion SHIB were redirected back to the same hot wallet. The total value of the operation was approximately $4 million. This wallet movement followed a 36% SHIB rally, which explains why traders noticed the transaction. According to available labeling data, this was a simple internal rebalancing and not an exchange selloff.
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