Over 198 billion Shiba Inu coins make their way onto significant American cryptocurrency exchange, Coinbase.
Cashing Out the Big Whale: 198 Billion SHIB Tokens Moved on Coinbase
In a notable move that's shaken the crypto world, a major SHIB whale seems to have cashed out their hefty stack of almost 198.17 billion tokens, sending them back to Coinbase just 16 hours ago. With each token now worth approximately $2.71, this chunky transaction amounts to a cool $2.71 million.
As per Arkham Intelligence's on-chain data, this whale wasn't always a millionaire—three transfers from Coinbase, totaling roughly 198.17 billion tokens, were received by the wallet between one month and three weeks ago. The breakdown? Around 87.28 billion, 32.20 billion, and 78.67 billion SHIB. Interestingly, at the time of these transfers, the total USD value was approximately $2.41 million. The recent outflow suggests a tidy profit of around $300,000.
The surge in SHIB's market value during April has shown the wallet's holdings swelling from just over $1 million at the start of the month to a peak of $2.7 million, painting a picture of smart investment moves. However, the motive behind this whale's strategic exit—whether it's price action or other signals—remains undisclosed.
Intriguingly, the tokens were returned to the very Coinbase hot wallet they originated from, bringing up the possibility that this might have been an exchange-internal shuffle rather than an individual's transaction.
This SHIB whale's move comes amid the flurry of news in the crypto world:
- XRP and 2025: Breakthrough or Bust? Ripple XRP may make a significant leap forward in 2025, making heads turn.
- Shiba Inu Bull Run Setback: Not Happening in 2025 While the SHIB bull run might have looked promising, it seems it's not in the cards for this year.
- Ethereum: Hitting $2,000 Within Reach? As Ethereum continues to make strides, the possibility of reaching $2,000 is becoming increasingly likely.
With the whale's SHIB stash gone but profit securely stashed away, one thing's certain—a smart investor just bagged a victory.
- The recent movement of 198.17 billion SHIB tokens from a whale's wallet back to Coinbase, worth approximately $2.71 million, has sparked discussion in the crypto world.
- According to Arkham Intelligence's on-chain data, the whale received these tokens from Coinbase over the course of a few weeks, with an approximate total worth of $2.41 million at the time.
- The whale's smart investment moves have been highlighted, as their holdings swelled from just over $1 million at the start of April to a peak of $2.7 million.
- The motive behind the whale's strategic exit, whether it's due to price action or other signals, remains undisclosed.
- The tokens were returned to the same Coinbase hot wallet they originated from, raising questions about whether this was an exchange-internal shuffle or an individual's transaction.
- Amidst the flurry of crypto news, the whale's move follows announcements about potential future developments for XRP and Ethereum.
- Analysts are now interpretating the whale's actions as a signaling event in the finance and investing world.
- While the SHIB bull run may be on hold for this year, the whale's profit of around $300,000 serves as a reminder of the potential gains in the crypto market, especially for those who invest wisely.
