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SHIB 1.16 trillion SHIB was transferred from Coinbase wallet with no impact on price
More than 1.16 trillion Shiba Inu (SHIB) tokens were transferred from wallets associated with Coinbase through a series of large-scale transactions in a short period of time. The blockchain analysis platform detected three large outflows in a few minutes, triggering widespread speculation in the SHIB community. Despite the massive transfer of tokens, the price of SHIB remained near multi-year lows before recovering only slightly.
Suspected internal transfers
According to a leading blockchain monitoring platform, these SHIB tokens were transferred from addresses associated with Coinbase, one of the world's largest cryptocurrency exchanges. The transferred tokens did not appear on the public market, which suggests that the activity most likely involved internal wallet management, such as rebalancing or transferring assets between different storage methods (hot and cold wallets). Most analysts believe these operations are administrative adjustments rather than market transactions, as there has been no corresponding surge in SHIB purchases or sales. However, the scale of the transfer has reignited discussions among traders and observers, bringing the chain activities of the memein to the spotlight again.
(Note: Cold wallets refer to offline storage of digital assets and are often used to enhance security and reduce the risk of online threats or exchange hacking.)
Net Exchange Outflows Show Reduced Selling Pressure
In addition, blockchain data also shows that in the past few days, a total of 74 billion SHIBs have been net outflow from major centralized exchanges. Such withdrawals are often interpreted as investors transferring tokens into self-custodial wallets, which often means a weakening willingness to sell in the short term. However, industry observers remain cautious about over-interpreting these outflows, pointing out that wallet restructurings for security or internal purposes are equally common among platforms and large holders.
Transfer type: Coinbase related wallet transfer, amount: 1.16 trillion SHIB, potential meaning: It is likely to be internal management.
Transfer type: Net outflow from the exchange, amount: 74 billion SHIB, potential meaning: may reduce selling pressure.
Prices and market structure remain weak
Technical analysts pointed out that despite the eye-catching on-chain transactions, SHIB prices have not yet exceeded key resistance levels. The token is still below its main moving average and has not yet shown the momentum needed for a true trend reversal. The market value of SHIB has also experienced fluctuations, hovering on the margins of the top 30 cryptocurrencies after recent weakness. Analysts warned that unless continued demand pushes prices past technical resistance, massive token transfers will by themselves be difficult to change bearish trends. Even trillion-level large SHIB token transfers may only attract attention, but unless there is a clear surge in buying interest and confirmed technological breakthroughs, it will be difficult to change market sentiment.
In the rapidly evolving space of memecoin, significant on-chain activities often spark discussion, but do not always immediately translate into price changes. For SHIB, traders remain vigilant to see whether such fierce wallet activity will lead to a resurgence of investor interest.
