A large Shiba Inu wallet connected to Coinbase just sent 278,367,375,343 SHIB from that address. This was worth approximately $2.34 million at the time of writing. As Arkham data records show, this address acquired large amounts of SHIB in several transfers throughout November, with inflows of 32.1 billion, 47.2 billion, 54.4 billion, 56.6 billion, and 87.9 billion SHIB, all coming from Coinbase hot wallets.
Importantly, there was no dispersion even after these deposits and tokens did not move for several weeks. What may have seemed like a clear hold pattern only ended a few hours ago with a single outflow transaction where the entire stack was sent back to Coinbase.
Exit is more important than its size and how it fits in with the price of other things, especially the action of popular meme coins. SHIB has literally been stuck in a small range below $0.000009 and above $0.000008 for the past two weeks.
It appears that Whale decided to close out his position without expecting a full-fledged breakout (what market analysts might call time capitalization) in Shiba Inu Coin.
Here is the price reaction of Shiba Inu coin
Normally when whales are trying to sell aggressively, we would expect to see a big drop, but today’s price reaction has been fairly modest.
Yes, SHIB was down about 1% on the day, trading around $0.00000841, but there was no spike in volume or visible liquidity disruption. This suggests that, at least for now, pressure is being absorbed rather than transmitted.
Whether it was a tactical trade or whale panic remains up for debate. If more wallets start following this pattern, SHIB could return to the lower $0.000008 zone. If this move remains isolated, the market will likely view it as a mere rotation rather than a rejection of the meme coin.
