- Whale moves 3 trillion SHIB from Coinbase.
- No official statements regarding the transfer.
- Potential bullish impact on SHIB’s market value.
A whale moved 3 trillion SHIB, valued at approximately $39 million, from Coinbase Prime to a self-custody wallet amid Shiba Inu’s expansion plans involving Base and Solana.
This significant transaction aligns with Shiba Inu’s multi-chain roadmap, raising community optimism and potential effects on SHIB liquidity and market dynamics.
The significant transfer of 3 trillion SHIB tokens could influence SHIB’s price stability and liquidity.
Major Whale Movement in SHIB Tokens
A major transfer of 3 trillion SHIB tokens occurred from Coinbase, totaling approximately $39 million. This coincides with Shiba Inu’s plans to integrate with Base and Solana, harnessing Chainlink’s CCIP for enhanced cross-chain functionality.
The identity of the involved whale remains undisclosed, marking the new wallet’s first transaction. This suggests a potential strategy aimed at accumulation rather than immediate trading or resale, as noted from on-chain records.
Market Implications and Observations
Market observers note the significant withdrawal from Coinbase likely reduces short-term selling pressure. This development has spurred discussion among community channels, hinting at a vote of confidence in Shiba Inu’s expanding roadmap.
The financial implications of this transfer might influence Shiba Inu’s price stability and liquidity. Developers confirmed the token’s base will remain Ethereum-native, though the multi-chain expansion could impact the broader network.
Kaal Dhairya, Lead Developer, Shiba Inu, “The token will always remain Ethereum-native, but we acknowledge the benefits of cross-chain expansion to Base and Solana.”
Speculative Impact on SHIB’s Market Value
Despite the absence of explicit regulatory or institutional responses, the transfer’s broader impacts remain speculative. Community and developer channels show optimism about the roadmap and the potential stabilizing effect on SHIB’s market valuation.
Historical data suggests previous large-scale SHIB transfers have triggered short-term bullish trends without lasting price increments. The integration with chains like Base and Solana could further diversify SHIB’s ecosystem engagement and utility prospects.
