A bunch of Shiba Inu tokens — 11,375,065,217 SHIB to be exact — left Wintermute's hot wallet earlier today and ended up on Coinbase. At the current price of about $0.000012 per SHIB, the move is worth about $139,460 — not a ton compared to Wintermute's total portfolio, but still a transfer worth noting given where SHIB is in the market cycle.
Arkham records show the tokens' path from one address to another before they reach Coinbase. Wintermute still holds more than 17.22 billion SHIB, worth $212,000, suggesting the firm isn't unloading its position but rather adjusting liquidity between venues.
For a market maker like Wintermute, sending tokens onto a major U.S. exchange usually means they are getting ready to support order flow or rebalance across books.
What's with Shiba Inu coin price?
SHIB has been stuck around $0.000012 for weeks, with no clear breakout on either side. The daily chart shows how far the meme coin has dropped from last year's highs above $0.000035. Since May, each bounce has been pretty shallow, and volumes just keep dropping.
Even transfers this big get noticed, since they could push up market support or put more pressure on sales, depending on how Coinbase's order books handle them.
It's important to note that $139,000 in SHIB is a small amount compared to the trillions of dollars exchanged daily across global markets. But movements connected to Wintermute tend to get noticed, since the firm's activity often lines up with shifts in exchange depth and spreads.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team