In one of the biggest Shiba Inu transactions in the last 24 hours, 56,329,137,888 SHIB - worth around $686,652 at the time - was moved from Coinbase Prime to a new, unidentified wallet. Notably, the transaction was completed in a single transfer, with no splits or batching.
Another major detail is that the sender wallet, "0x99c3," is linked to Coinbase Prime, the exchange's professional-grade custody and trading service. The receiving wallet, "0x2072," looks like a new address with no previous activity, so it seems that this was not just a normal internal movement.
It is not clear if it was for storage, trading or something else, but the scale and source are what make it stand out.
Coinbase Prime works with big-time clients, so it is not just some random retail user making a risky move. This was planned by someone who has access to Coinbase's professional services.
That is what makes the transaction notable. The SHIB was not cashed out or swapped on-chain, just moved, which usually points to a strategy involving custody or positioning.
Shiba Inu (SHIB) price
At the same time, SHIB's price has seen a slight increase. As of now, the token is trading at $0.0000122, up 1.7% in the last 24 hours. SHIB is still down 2.67% over the past week, but the daily trading volume is holding strong at over $115 million, and its market cap is stuck at around $7.18 billion.
There has been no statement from Coinbase or any connected entity, and the destination wallet has not made any additional moves since receiving the funds.
At the moment, it is a low-key transfer on the surface, but with this kind of size and origin, it is the kind of on-chain activity that does not go unnoticed for long.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team