A massive Shiba Inu transaction has triggered alerts across blockchain monitoring platforms and institutional channels. Just past midnight, 2.86 trillion SHIB tokens, valued at roughly $36.6 million, were transferred into a wallet linked to Coinbase Institutional.
The transfer came from a previously low-profile wallet labeled “0x2E2…AaEf,” which had been holding one of the larger SHIB positions seen on-chain. After this move, the wallet now holds just over 30 billion SHIB tokens.
According to data, the destination address is tied to Coinbase Prime, a custodial service used primarily by high-net-worth clients and institutional investors. This shift has fueled speculation about possible offloading or positioning for large-scale market activity.
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Large Whale Transfer to Institutional Wallet Triggers Selloff Speculation
The size and target of the transaction are leading many to believe the move may signal an impending SHIB dump. Coinbase Institutional wallets are typically involved in over-the-counter trades or storage for significant market participants, not casual investors.
Some analysts suspect the sending wallet could be tied to Wintermute, a global trading firm active in the crypto space. Both Wintermute and Coinbase have made no official statements or confirmations so far.
The humongous transfer has not led to much action in SHIB’s market. The value of the token is currently $0.00001282, and it has been going down since late May, with not much increase in volume after the transaction.
When such large trends are detected, they are watched closely to see how they could affect token trading and future prices. Because there has been no movement in retail exchanges, predictions about possible sales of these tokens continue.
There has been no proper explanation released about the transfer as of now. The significance and the future location of cryptocurrency raise concerns among traders and members of the community.
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