[DigitalToday reporter Yoonseo Lee (이윤서)] An unidentified whale wallet withdrew 280.8 billion Shiba Inu (SHIB) from crypto exchange OKX as the token rebounded, drawing market attention.

On Aug. 25 (local time), blockchain media outlet The Crypto Basic reported the tokens moved on Aug. 24 to an unlabelled hot wallet. They were worth $1.56 million at the time.

On-chain analytics firm Arkham classified the receiving address as an unverified wallet. It also showed signs, based on transaction flows, of links to digital asset liquidity provider Cumberland. The wallet received its first funds from Cumberland and later recorded multiple transactions related to Cumberland.

The address does not continue to hold the entire withdrawn amount. The wallet later sent SHIB to multiple addresses, cutting its current holdings to about 14.29 billion tokens. The holding is worth $79,030.

The large transfer coincided with SHIB giving back part of its recent gains. SHIB rose as high as $0.000006191 over the weekend but later retraced some of the move. SHIB was trading at about $0.000005326, up 2.10 percent over 24 hours and 21.30 percent over the past week.

Exchange flows are also drawing attention from a supply-and-demand perspective. Investors withdrew 137.6 billion SHIB from exchanges over the past 24 hours, reducing exchange holdings to 86.98 trillion tokens. The market is interpreting the large outflows as a bullish signal because they can reduce immediately sellable supply and ease selling pressure.

On charts, SHIB is also approaching a short-term inflection point. Crypto analyst Gainmuz said a wedge pattern is appearing on a two-hour chart and the support line is currently holding the structure. The zone has eight support levels and seven resistance levels, indicating buying and selling forces are closely matched.

SHIB's next move is likely to depend on how it reacts at the nearest technical price level. A clear break above resistance could strengthen the recent upward momentum and open room for further gains. If it is pushed back at resistance and breaks below support, $0.000005 and $0.0000048 were cited as the next downside targets.

The large withdrawal has emerged as a variable for SHIB supply dynamics and short-term direction. With exchange balances falling and the token entering a technical resistance zone at the same time, on-chain fund flows and chart reactions at support and resistance are expected to be watched closely in the near term.