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
Crypto Projects Struggle to Recover from Major Hacks

Nearly four out of five crypto projects that experience a major hack never fully recover due to operational paralysis and loss of trust.

Silver Price Surge Reveals Major Banks' Short Position Risks

The recent rise in silver prices has raised concerns about the significant short positions held by major banks, potentially leading to a market crisis.

Bybit CEO Ben Zhou to Present 2026 Roadmap

On January 29, 2026, Ben Zhou, the CEO of Bybit, will unveil the company's roadmap for the future of digital finance during a keynote in Dubai.

Terminology Debate Surrounds XRP Vaulting Practices

A recent discussion has emerged regarding the terminology used by Zach Rector in his commentary on XRP vaulting, highlighting the ongoing debate about how vaulting and liquidity should be described.

CryptoQuant Highlights Importance of Exchange Inflows in Current Market

CryptoQuant highlights the significance of exchange inflows in the current market, indicating a shift towards capital preservation and profit-taking.

Larger Holders Drive Recent Bitcoin Inflows

Recent exchange inflows are primarily driven by larger holders, indicating strategic portfolio adjustments.

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