A recent transfer of 258.5 billion Shiba Inu (SHIB) tokens from Coinhako's hot wallet onto the Ethereum blockchain has captured community attention.
Details of the SHIB Transfer
The transfer was recorded approximately seven hours ago and amounted to about $3.56 million. The destination wallet, labeled '0x25E', now holds around $4.08 million in SHIB.
Unclear Wallet Owners
On-chain data presents two possible scenarios: either a Singapore-based high-net-worth individual using Coinhako for custody and accumulation, or Coinhako itself reorganizing funds internally across operational wallets.
Further Observations of the Wallet
The wallet receiving the amount has seen a mix of deposits and withdrawals. It has made smaller transfers of SHIB to Binance in the last 72 hours, but this transfer is the largest single transaction recorded, making it a key address to monitor for major investor or exchange activity.
While the true identity of the holder remains unclear, it is clear that large-scale positioning in Shiba Inu in Asia is not slowing down, and this wallet has become a significant one to watch.
