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A big Shiba Inu wallet connected to Coinbase just sent 278,367,375,343 SHIB from its address, which was worth about $2.34 million at press time. As Arkham data records show, the address had been getting loads of SHIB in a few transfers throughout November, with 32.1 billion, 47.2 billion, 54.4 billion, 56.6 billion and 87.9 billion SHIB coming in, all from Coinbase hot wallets.
What's important there was no dispersion after those deposits and tokens did not move for weeks, what may have seemed like a clear hold pattern that only ended a few hours ago with a single outflow transaction sending the whole stack back to Coinbase.
The exit is less important for its size and more for how it fits in with other things, especially the price of action of the popular meme coin. SHIB has been literally stuck in a small range for the last two weeks, below $0.000009 and above $0.000008.
It seems like the whale decided to close the position, without expecting a full-fledged breakout for Shiba Inu coin — something market analysts may call time capitalization.
Here's how Shiba Inu coin price reacted
Usually, you would expect to see some big sell-offs when a whale is trying to sell aggressively, but the price reaction has been pretty calm today.
Yes, SHIB dropped about 1% on the day, trading near $0.00000841, but with no surge in volume and no visible liquidity disruption. This suggests that the pressure is being absorbed rather than passed on, at least for now.
Whether it was a tactical trade or whale panic remains open to debate. If more wallets start following this pattern, SHIB could fall back to the lower $0.000008 zone. If this move remains isolated, the market probably sees it as just rotation and not a rejection for the meme coin.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team