Significant Increase in SHIB Holdings
As revealed by Arkham data, an anonymous wallet linked to Coinbase Prime has doubled its Shiba Inu (SHIB) holdings in a single day, now sitting on 186.68 billion SHIB — worth around $2.4 million at current prices. This buildup occurred through a series of coordinated transfers from Coinbase Prime’s hot wallet, indicating deliberate actions rather than randomness.
The wallet received six identical transfers of 14.427 billion SHIB each, followed by a smaller 9.6 billion SHIB deposit, raising the address’s balance from approximately $1.2 million to $2.39 million in under 24 hours.
All transactions originated from Coinbase’s systems, which suggests it may be an unidentified large investor using Coinbase Prime services or an internal transfer involving the movement of assets between cold and hot wallets.
Timing Makes It All the More Interesting
At the time of these deposits, SHIB was actually declining. In just a few hours, the token fell from above $0.000013 to a low of $0.00001255, later recovering slightly to $0.00001278 per SHIB. The person managing this purchase decided to act while the price was softening rather than after a breakout.
On-chain data shows a sharp rise in the wallet’s value on July 30, with no indications of SHIB being withdrawn from the address. This behavior typically suggests accumulation, rather than trading.
It remains unclear whether this activity is from an institution or a significant private holder, but the pattern is noteworthy: a substantial SHIB position was established via Coinbase channels, demonstrating confidence despite a market pullback.
Comments (3)
Vera
18:18 - 30/07/2025
At the time of these deposits, SHIB was actually declining.
Vera
18:18 - 30/07/2025
At the time of these deposits, SHIB was actually declining.
Vera
18:18 - 30/07/2025
At the time of these deposits, SHIB was actually declining.