Analytics resource NerdBot revealed that over 18 billion SHIB tokens have been purchased by newly created wallets in the past two weeks. This surge in activity highlights the enduring popularity of the memecoin despite recent volatility.
NerdBot’s on-chain data shows consistent accumulation beginning September 20, with a spike on September 25 as over 5 billion SHIB was acquired in a single day after prices briefly hit $0.00000751. Though daily figures fluctuated, purchases stayed above 3 billion SHIB from September 30 to October 2.
In tandem with this accumulation trend, NerdBot data indicates a decline in exchange net flows, reaching the most negative value since September 25. Negative net flows typically signal investors are moving tokens off exchanges into private wallets.
Adding to the trend, a new major holder known as 0xb75 withdrew over 292 billion SHIB from top U.S. exchange oinbase">Coinbase in the past three weeks. Large withdrawals are often viewed positively as a sign of long-term confidence.
The combined on-chain data points to expanding interest in Shiba Inu during the recent consolidation. As the memecoin vies to fuel new rallies, the figures offer insights into investor behavior that could foreshadow future growth.
At press time, SHIB traded at $0.000007165, down 1% on the day. But if the accumulation persists, Shiba Inu may be poised to recapture its previous meme-fueled hype.
