The recent sizeable transfer of 139.88 billion SHIB tokens worth $2.42 million from Coinbase to an undisclosed address has sparked curiosity and speculation within the cryptocurrency community. According to data from Arkham, this notable transaction involved the address '0xA606,' which lacked any previous transaction history. Split into two periods, the withdrawal consisted of an initial transfer of 116.623 billion SHIB tokens followed by an additional 23.26 billion SHIB tokens. This surprise move coincided with a period of decreased trading activity surrounding Shiba Inu, which has witnessed a significant price decline over the past few months. The value of SHIB plummeted by 62% from $0.000045 to $0.000017 after experiencing a sharp 400% drop in February. Consequently, interest in this meme cryptocurrency has waned. The significance of this withdrawal lies in its timing, indicating a strategic accumulation tactic amid low market enthusiasm. Such significant movements often precede planned market activities, giving rise to speculations regarding potential future trends in SHIB's valuation. The attention has now shifted to the price chart of Shiba Inu, as large unknown entities discreetly amass wealth in SHIB while the token remains relatively unnoticed. Observers await clues from the price movements of this popular meme cryptocurrency to gauge its upcoming trajectory.
The Future Outlook for SHIB

by Giorgi Kostiuk
2 years ago

Other news
ARK Invest Increases Exposure to Crypto Stocks Amid Market Pullback

ARK Invest capitalizes on the recent dip in crypto-linked stocks by purchasing significant shares in Coinbase, Circle, and Bullish.

RYO Digital Expands Community Engagement with RYOCHAN Ecosystem Initiatives

RYO Digital launches initiatives to enhance community participation in the RYOCHAN ecosystem, including the RYOCHAN Whitelist PreSale and the RYOCHAN Adventure Novel.

RYO Digital Achieves Milestones in 2025 with LIFE Wallet Launch and Infrastructure Development

RYO Digital concludes 2025 with significant advancements in its Web3 infrastructure and the launch of LIFE Wallet.

Aster DEX Introduces Strategic Buyback Reserve for ASTER

Aster DEX has launched a Strategic Buyback Reserve, allocating a portion of daily fees to repurchase ASTER tokens.

Dave Weisberger Analyzes Bitcoin Market Dynamics Amid Silver Volatility

Dave Weisberger analyzes the psychological state of the Bitcoin market and its volatility in relation to silver.

Binance Launches USD1 Airdrop Campaign

Binance has initiated a USD1 airdrop campaign for eligible users, with a total reward pool of USD 40 million. The campaign runs from January 23 to February 20, 2023, and aims to incentivize users to hold USD1 on the platform.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter