- A whale withdrew 169.13 billion SHIB tokens from Coinbase in six transfers over 17 hours.
- The total value of these tokens was approximately $1.5 million at the time of withdrawal.
- All transactions originated from a single Coinbase hot wallet without further activity, indicating a deliberate accumulation.
- The activity took place while the Shiba Inu price remained stable near $0.0000088, a level that has seen prolonged consolidation.
- Future price movement may depend on whether accumulation continues or stops after these transfers.
A Shiba Inu whale has moved 169.13 billion SHIB tokens off Coinbase through six separate transfers within a 17-hour period. At the time, these transfers were worth about $1.5 million. This activity has attracted attention due to the size and timing, as the SHIB price has stayed close to $0.0000088.
Data shows the transfers were executed with increasing amounts, ranging from 11 billion to 81 billion SHIB per transaction. All the tokens came from a single Coinbase hot wallet, with no signs of splitting or routing typical of holders trying to hide their movements. Since receiving the tokens, the wallet has not sent any further transactions, indicating it belongs to an individual positioning their holdings.
The accumulation occurred while the SHIB price remained flat around $0.0000088, a level that the market has repeatedly returned to. This price consolidation phase has involved weak sentiment across meme coins in general. Such conditions can enable a whale to quietly absorb liquidity without affecting the price significantly, as traders have noted here.
According to CoinGecko, the SHIB price has been consolidating near this range for some time. The future impact of this whale activity depends on whether similar inflows continue from Coinbase. If they do, traders may see this as positioning for a potential move toward the $0.0000117 price level. Conversely, if the activity stops, it could be a single accumulation event.
The whale has not made any additional moves since the sweep. Market participants are closely watching this wallet and Coinbase for further activity, which may provide clearer signals about upcoming trends.
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