- Whale moves $36.6 million in SHIB to Coinbase Prime wallet.
- Dormant wallet deposits 100 billion SHIB into Binance after three years.
Shiba Inu’s price declined as large holders moved trillions of tokens across exchanges. Whale Alert reported on June 4 that a wallet labeled “0x2e2c” transferred 2.85 trillion SHIB tokens, worth roughly $36.6 million, to Coinbase Prime.
The move occurred at exactly 21:24 UTC and came as Shiba Inu recorded a 2.34% 24-hour drop in price. Given that Coinbase Prime serves institutional clients, the transaction intensified speculation.
Market observers linked the red price graph to heavy selling pressure triggered by the whale activity. Shiba Inu dropped to an intraday low of $0.00001189 before rebounding slightly. At the time of writing, SHIB trades at $0.00001265, still down 1.10% from the previous day.
Despite the decline, trading volume surged by 95.91% to over $276 million. Analysts interpreted this as evidence of heightened activity likely tied to the whale movement.
The source wallet remains unidentified, but such large-scale shifts often suggest internal positioning or preparation for offloading on major platforms.
Dormant Wallet Deposits Over 100 Billion SHIB into Binance
Lookonchain records revealed another wallet, “0x6E4530…5612,” had re-emerged after three years of dormancy. Around six hours before the latest report, the wallet deposited approximately 100.442 billion SHIB into a Binance address. The transfer was valued at about $1.21 million at the time.
The exact address also executed a smaller transaction of 5 million SHIB, valued at $60.25. Historical data from Arkham showed that the wallet had initially received 100.328 billion SHIB and another 119.679 million SHIB from a Binance Hot Wallet about three years ago. At the time of acquisition, those tokens were worth $897,930 and $1,070, respectively.
At the current market value, the whale secured a combined profit of approximately $311,000 from the recent deposit.
However, the address had missed a much larger peak valuation that could have exceeded $2.7 million during SHIB’s historic highs. The activity underlined the volatility of meme tokens and the outcomes of extended holding periods.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
