A significant investor on Coinbase has recorded a substantial increase in their Shiba Inu assets, raising their investments to an impressive $2.43 million.
Volume of Shiba Inu Purchases
In recent days, the investor made four major transfers from Coinbase's hot wallet, marking one of the largest accumulation operations in recent times. The total purchase volume reached 191.857 billion Shiba Inu.
Analysis of Whale Activity
Data from Arkham shows that SHIB inflows occurred in the following amounts: 22.47 billion, 38.39 billion, 102.59 billion, and 28.39 billion. The largest single transfer amounted to approximately $1.28 million. A total of $2.4 million was withdrawn from the leading U.S. crypto exchange and allocated to a single address without any outflows.
Market Prospects for Shiba Inu
The activity of this investor is intriguing, especially as most other transactions have been smaller and more fragmented. The transfer of nearly 192 billion SHIB from a major exchange into a single address suggests accumulation rather than short-term investments. The future of the asset will depend on its response to support levels in the coming days.
This situation with Shiba Inu raises important questions about the asset's future in a market characterized by limited liquidity and modest inflows.
