On February 13, 2025, a newly created wallet executed a major crypto withdrawal from Binance, pulling out 290.4 billion SHIB tokens valued at $4.84 million** and **97,111 AVAX tokens** worth **$2.52 million. This large-scale movement, first reported via a Lookonchain post and verified through DeBank’s blockchain tracking tools, has sparked market speculation about investor sentiment and potential price impacts for both Shiba Inu (SHIB) and Avalanche (AVAX).
The wallet in question, identified by the address 0xef88…, was recently created and shows no prior transaction history—suggesting a strategic deployment by a high-net-worth individual or institutional player. Such sudden movements from centralized exchanges often signal either an intent to sell, long-term holding (HODLing), or transfer to a private cold wallet for security.
Market Impact of the SHIB and AVAX Withdrawals
The scale of this withdrawal is notable, especially for SHIB. Over the past week, SHIB’s average daily trading volume stood at approximately 5.2 trillion tokens, meaning this single withdrawal accounts for over 5% of daily volume. Removing such a large supply from exchange liquidity can influence price volatility—particularly if the holder begins selling on decentralized platforms or over-the-counter (OTC) markets.
For AVAX, the withdrawal represents about 0.1% of the total circulating supply, a smaller but still meaningful amount given Avalanche’s growing ecosystem and institutional adoption. With AVAX recently hitting new technological milestones—including upgrades to subnet functionality and cross-chain interoperability—this movement could reflect confidence in the network’s long-term value.
At the time of the withdrawal (10:20 AM UTC), SHIB was trading at $0.0000167, according to CoinGecko data. By 10:30 AM UTC, the price dipped slightly by 0.5%, possibly reflecting early market reaction to reduced exchange availability or anticipation of selling pressure.
In contrast, AVAX showed resilience, climbing to $25.95—a 3% gain over the previous 24 hours—with trading volume spiking 15% within the hour following the withdrawal. This surge suggests that investors may interpret the AVAX movement as bullish, especially amid broader optimism around Layer 1 blockchain innovations.
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Trading Dynamics and Pair Performance
Market reactions were also visible in key trading pairs on Binance:
- The SHIB/BTC pair saw a minor decline in volume, with 145 BTC traded in the hour post-withdrawal.
- Meanwhile, the AVAX/BTC pair experienced a 10% increase, reaching 220 BTC in volume.
This divergence highlights differing investor perceptions: while SHIB faces potential bearish sentiment due to its meme-token status and sensitivity to whale activity, AVAX continues to attract interest as a fundamentally strong smart contract platform.
Additionally, decentralized exchange (DEX) activity spiked after the event:
- SHIB’s DEX trading volume jumped 20% to 1.5 trillion tokens
- AVAX’s DEX volume rose 12% to 50,000 tokens
This shift toward decentralized platforms may indicate growing preference for peer-to-peer trading environments—possibly to avoid exchange-based scrutiny or to execute large trades with less slippage.
Technical Analysis: SHIB vs AVAX
Shiba Inu (SHIB)
From a technical standpoint, SHIB shows mixed signals:
- The 1-hour chart reveals a bearish RSI divergence, suggesting weakening momentum despite a recent 5% price rise.
However, longer-term indicators remain positive:
- 50-day moving average: $0.0000155
- 200-day moving average: $0.0000140
- Current price ($0.0000167) sits well above both averages, indicating underlying bullish strength.
This pattern suggests that while short-term correction is possible—especially with increased supply off-exchange—the broader trend remains upward if support holds around $0.000015.
Avalanche (AVAX)
AVAX presents a more optimistic technical picture:
- The 1-hour chart displays a bullish engulfing candlestick pattern, often a precursor to upward movement.
Key moving averages confirm strength:
- 50-day MA: $24.50
- 200-day MA: $23.00
- With price now at $25.95, AVAX is clearly in an uptrend across all timeframes.
Combined with rising on-chain activity and strong developer engagement, these signals support continued growth potential for Avalanche in both mid and long-term horizons.
On-Chain Activity Surge After Withdrawal
On-chain metrics further validate increased market engagement:
- SHIB active addresses rose 10% in 24 hours to 120,000
- AVAX active addresses grew 5% to 25,000
These increases suggest that despite—or perhaps because of—the large withdrawal, user interaction with both networks is intensifying. Higher active address counts typically correlate with stronger network health and growing utility or speculative interest.
CryptoQuant data confirms that exchange outflows often precede accumulation phases, especially when paired with rising on-chain activity. This could mean that whales are positioning themselves ahead of anticipated price rallies or ecosystem developments.
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Frequently Asked Questions (FAQ)
Q: What does a large crypto withdrawal from Binance mean?
A: It typically indicates that a holder is moving funds off-exchange, which can signal long-term holding intentions, private storage for security, or preparation for sale on decentralized markets. The impact depends on subsequent actions.
Q: Could this SHIB withdrawal cause a price drop?
A: Potentially, yes—if the tokens are sold quickly on DEXs or OTC markets. However, if they’re held or used in DeFi protocols, the effect might be neutral or even bullish due to reduced circulating supply on exchanges.
Q: Why is the AVAX withdrawal considered bullish?
A: Because AVAX has strong fundamentals—scalable architecture, enterprise adoption via subnets, and active development. Large withdrawals often reflect confidence in projects with real-world use cases.
Q: How do whale movements affect retail investors?
A: Whales can influence short-term volatility. Retail traders should monitor on-chain data and technical indicators rather than react impulsively to single events.
Q: Are new wallets always linked to institutional investors?
A: Not always—but sudden large transfers to fresh addresses are often associated with institutions or funds using new addresses for operational security and privacy.
Q: Where can I track similar crypto movements in real time?
A: Blockchain explorers like DeBank, Etherscan, and platforms like Lookonchain provide live updates on major transactions across networks.
Final Outlook: What’s Next for SHIB and AVAX?
The dual withdrawal of SHIB and AVAX underscores a growing trend: sophisticated investors are actively reallocating assets based on project maturity and market cycles.
While SHIB remains vulnerable to sentiment-driven swings due to its meme-based origins, its vibrant community and expanding ecosystem (including Shibarium Layer 2) provide structural support.
AVAX, meanwhile, continues to solidify its position among top-tier Layer 1 blockchains. Its combination of speed, low fees, and customizable blockspace via subnets makes it attractive for enterprises and developers alike.
As both assets experience heightened on-chain activity and exchange outflows, the coming days will be critical in determining whether this withdrawal leads to consolidation or breakout momentum.
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