Data has shown an increase in activity for Shiba Inu whales, teasing what could be a catalyst for an uptrend.

Data shows that a Shiba Inu whale has withdrawn a large stack of SHIB from the Binance exchange, which may benefit the memecoin’s price.

On-chain data shows the large Shiba Inu holders have accumulated a combined $100 million in SHIB during the past week.