After staying completely inactive for around three months, a major Shiba Inu (SHIB) holder has suddenly come back into action, moving over 150 billion SHIB tokens from crypto exchange Bybit into a personal wallet. The activity started a few months back but has picked up again recently, with another significant transfer taking place just 18 hours ago, according to Arkham.
The wallet in question, which can be tracked on-chain, received several large amounts of SHIB from Bybit, including a transfer of over 107 billion tokens in one go. That one alone was worth about $1.68 million at the time.
In total, the four transactions from the exchange added up to more than 150 billion SHIB, with the most recent one bringing in over 20 billion SHIB - valued at roughly $318,000 based on current prices.
This wallet had not been used much since early 2024, except for a big Ethereum transaction about a year ago, where 150 ETH, worth just under $336,000 at the time, were sent to another address.
Since then, it has been pretty quiet until these recent SHIB inflows. Now, the wallet holds around 151.6 billion SHIB, which is currently valued at over $2.6 million, along with a tiny amount of ETH.
All this is going on as SHIB's market performance shows signs of picking up steam. The token has gained almost 9% in the past day and is currently trading around $0.0000173. It is now above a recent resistance level and approaching a higher zone that could act as the next bar.
It is not clear what the wallet owner has in mind for the Shiba Inu coin. Is it part of a long-term strategy or something more short term? The timing of these transfers suggests they might be taking the recent price surge into account and getting ready for more action.
Vladislav Sopov