Dogecoin(CRYPTO: DOGE) and Shiba Inu(CRYPTO: SHIB) saw notable price gains over the past month, rising 7% and 6% respectively, as broader market sentiment improved and large holders moved tokens off exchanges.
Large Outflows From Robinhood
According to Whale Alert data, both tokens recorded significant transfers from Robinhood into private wallets, a move typically interpreted as reduced near-term selling pressure.
Dogecoin holders moved more than 2.56 billion DOGE, worth roughly $245 million, across five transactions, marking one of the largest single-day liquidity withdrawals in the asset's history.
Shiba Inu holders also transferred over 16 trillion SHIB, valued at approximately $95 million, into an unknown wallet in mid-April.
Additional large transfers included hundreds of millions of DOGE moving off Robinhood and Bithumb earlier in the month.
- On Apr.9, around 327.3 million DOGE were moved from Robinhood to an unknown wallet.
- Also, an approximate 900 million DOGE were transferred from Bithumb to an unknown wallet in early April.
Market participants often view such activity as a signal that investors are shifting assets into long-term cold storage, reducing exchange liquidity and potentially tightening supply.
Analysts Point To Accumulation Phase
Political economist Seth
Trader Tardigrade
For Shiba Inu, analyst Javon Marks
Image: Shutterstock

