A large Shiba Inu (SHIB) holder, often referred to as a “whale,” has transferred a staggering 198.17 billion tokens—worth approximately $2.71 million—back to Coinbase. The transaction took place just 16 hours ago and involved a single transfer to a known Coinbase hot wallet. This movement strongly suggests that the whale either sold the tokens or prepared to sell them imminently.
Accumulation Pattern Tracked Over a Month
On-chain data from Arkham Intelligence reveals that this same wallet previously received three large SHIB transfers from Coinbase over the past month. The amounts included 87.28 billion, 32.20 billion, and 78.67 billion tokens, totaling nearly the exact same 198.17 billion now returned. At the time of accumulation, these tokens were valued at around $2.41 million.
Source: Arkham Intelligence
The wallet owner likely secured a $300,000 profit by comparing earlier and recent transfer values. This gain came in April as SHIB’s price climbed. Charts show the wallet’s value rose from just over $1 million to $2.71 million before the owner moved the tokens.
Exchange-Internal Movement or Strategic Exit?
Interestingly, the whale sent the SHIB tokens back to the same Coinbase hot wallet they originally came from. This raises the possibility that the transactions might have been internal to the exchange, rather than a whale acting independently.
Related article: Shiba Inu Price Could Soar Over 240% If SHIB ETF Captures Just 5% of Bitcoin ETF Inflows
However, even if this were the case, the strategy looks calculated: accumulate during flat conditions and sell after a price surge. Regardless of whether the move came from an individual or an internal wallet management system, one fact remains: someone turned a significant profit within a short window.
This episode highlights the continued opportunities within the meme coin sector, particularly with SHIB. It also serves as a reminder that timing and volume still play a critical role in successful crypto trading.
