The Singapore-based cryptocurrency exchange Coinhako has become the focal point of significant Shiba Inu (SHIB) activity, with blockchain intelligence platform Arkham reporting a massive redistribution of over 441 billion SHIB tokens within a 24-hour period.
According to the data, 253.69 billion SHIB, valued at approximately $1.58 million, were withdrawn from Coinhako's hot wallet. Simultaneously, 187.66 billion SHIB, worth around $1.17 million, remain secured in the exchange's cold storage. This substantial movement coincides with a notable price surge for the meme cryptocurrency, which saw gains of up to 8% during the trading day, settling at a 2.86% increase and trading around $0.00000613.
Analysts link the anomalous trading activity directly to the massive transfers, suggesting they are a response to increased institutional demand for SHIB in the Asian region. Coinhako is a key regulated platform in Singapore, offering direct trading of SHIB against both the Singapore Dollar (SGD) and the U.S. Dollar. The exchange's infrastructure is reportedly crucial for major investors, or "whales," to conduct strategic portfolio accumulation and rebalancing.
Institutional participants now dominate Coinhako's trading volume, accounting for roughly 60% of its activity. This highlights a shift in SHIB's market dynamics, moving beyond conventional retail trading toward more mature, institutional-level engagement. The combination of Singapore's regulatory clarity and Coinhako's robust platform has positioned the city-state as a strategic hub for significant SHIB flows.
