Recent operations with Shiba Inu token have attracted attention after an anonymous wallet linked to Coinbase Prime doubled its holdings.
Secret Accumulation in Shiba Inu
According to Arkham data, an anonymous wallet linked to Coinbase Prime has increased its Shiba Inu holdings to 186.68 billion tokens, which is equivalent to around $2.4 million. The accumulation occurred through a series of planned transfers from Coinbase's hot wallet, indicating intentional action.
Timing of Purchases and Market Fluctuations
Interestingly, at the time these deposits were made, the price of SHIB was declining. The token fell from just above $0.000013 to a low of $0.00001255, before rising slightly. The investor decided to enter the market when the price was softening.
Unknown Investor or Internal Transfers?
While it can't be determined whether this wallet belonged to a large institutional investor or a private individual, the fact remains: a substantial SHIB position was built through Coinbase channels, with no signs of trading, even amid price declines.
The data on the sharp increase in the wallet's holdings raises questions about a potential large investor in the SHIB market, especially in the context of falling prices.
