Over the past four days, more than 174 billion Shiba Inu (SHIB) tokens were withdrawn from Coinbase, sparking interest in this event.
Transaction Details
In the past four days, 174 billion SHIB tokens worth approximately $2.2 million have been withdrawn from Coinbase. The recipient wallet, with the address '0x38A8', had no prior transaction history. The transfers were conducted in three phases, with the last and largest transaction of 79.385 billion SHIB occurring just 18 hours ago.
Reactions and Opinions
This event drew various reactions: some believe major players are moving assets to cold storage, while others see it as a regular internal reorganization. According to Arkham Intelligence, currently, there are more SHIB deposits on the exchange than withdrawals, raising questions among observers.
Analysis of SHIB Movements on the Exchange
Despite the large withdrawal, the overall flow of SHIB to the exchange suggests a greater activity in deposits, which in traditional market terms could indicate bearish sentiments. This is often interpreted as traders preparing to sell assets.
This event remains an anomaly and lacks a clear explanation. Time will tell whether it marks the beginning of something larger or remains a random occurrence in SHIB's on-chain history.
