A significant new player has emerged in the Shiba Inu ecosystem, with a wallet linked to Coinbase Prime accumulating hundreds of billions of SHIB tokens. This strategic accumulation has transformed the address into a notable mid-tier whale, drawing attention from on-chain trackers, even as the broader market for SHIB remains largely unaffected by the colossal transactions.
Massive SHIB Accumulation Unveiled
An address identified by on-chain trackers, specifically Arkham, and linked to Coinbase Prime, has amassed a staggering 335,981,991,365 SHIB tokens, valued at nearly $3.9 million. This considerable collection wasn't a sudden event but occurred over more than a month, initially through regular transfers ranging from 8.5 billion to 15.5 billion SHIB. However, the pattern shifted recently, with a series of consecutive 16.228 billion SHIB transfers, each worth close to $200,000, rapidly boosting the wallet's balance and solidifying its status among mid-tier whale accounts.
Market's Muted Reaction to Whale Activity
Despite the immense volume of SHIB absorbed by this Coinbase-linked wallet, the Shiba Inu market has exhibited no direct or significant price reaction. The token's value hovers around $0.00001162, showing a slight decrease and remaining below its early September highs. This lack of market interest suggests that the substantial inflows haven't sparked bullish sentiment. Experts speculate this could indicate a strategic accumulation by the entity at lower price points, or it might be Coinbase internally restructuring its Shiba Inu holdings within new wallet addresses. Regardless of the exact motive, the undeniable fact remains that hundreds of billions of SHIB have moved out of the largest U.S. cryptocurrency exchange.
