As revealed by Arkham data, an anonymous wallet linked to Coinbase Prime has just doubled its Shiba Inu (SHIB) holdings in a single day, now sitting on 186.68 billion SHIB — worth around $2.4 million at current prices. The buildup happened through a series of coordinated transfers from Coinbase Prime's hot wallet, which makes it seem like it was deliberate rather than random.
The wallet received six identical transfers of 14.427 billion SHIB each, followed by a smaller 9.6 billion SHIB deposit, lifting the address's balance from roughly $1.2 million to $2.39 million in under 24 hours.
All the transactions came directly from Coinbase's systems, which makes it seem to be either an unknown big investor using Coinbase Prime services or an internal move involving moving assets around the cold and hot wallets.
Timing makes it all the more interesting
SHIB was not climbing during these deposits; it was sliding. In the space of just a few hours, the token dropped from above $0.000013 to a low of $0.00001255, then picked up a bit to $0.00001278 per SHIB. The person who made the purchase decided to jump in when the price was softening — not after a breakout.
On-chain data shows a sharp rise in the wallet's value on July 30, with no signs of any SHIB leaving the address. That kind of behavior usually indicates accumulation, rather than trading.
It is not clear if this is an institution or a big private holder, but the pattern is hard to ignore: a huge SHIB position was built up via Coinbase channels, with no signs of hesitation, even though there was a pullback.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team