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ETH 
SHIB A Shiba Inu (SHIB) whale withdrew 361 billion SHIB tokens from South Korean cryptocurrency exchange Coinone in three transfers, transferring assets worth nearly $1.9 million to a private wallet address. Currently, the receiving wallet holds a total asset value of $23.53 million, including tokens such as Ethereum and ONDO, and has limited outflow activity in its overall portfolio.
On the technical side, the price of SHIB is currently trading between the support level of the 100-day simple moving average (SMA 100) and the resistance level of the 200-day simple moving average (SMA 200). As momentum weakens, short-term direction remains uncertain for traders.
Details of large fund transfers
According to Arkham Intelligence, the address collected these tokens through three separate transfers from the South Korean cryptocurrency exchange. The largest transaction contained 355.27 billion SHIBs worth approximately US$1.87 million, which was transferred to address 0x687c... 459e. Two other transfers involving 4.29 billion and 1.5 billion SHIBs brought the total inflow of the wallet to 361 billion tokens.
It is worth noting that the cryptocurrency portfolio controlled by this recipient is worth approximately US$23.53 million, indicating that it is an important player in the market. Its holdings include approximately $9.68 million in Ethereum and $1.22 million in ONDO, assets that have been steadily accumulated over the past few months.
Hours later, the wallet transferred a relatively small amount of SHIB to two other South Korean trading platforms, Upbit and Korbit. The transactions involved only millions of tokens rather than billions, meaning that the holder retained almost all of the withdrawals from Coinone. Smaller transfers may be designed to test exchange gateways, but blockchain records cannot confirm the wallet owner's specific plans or identity.
The SHIB price shrank between the two moving averages
At the same time, the SHIB price was approximately US$0.000050459, down 4.01%, making it difficult for buyers to regain control of the situation. The token is trapped between the resistance level at the 200-day simple moving average and the support level near the 100-day simple moving average.
Specifically, the SMA 200 is located around US$0.000053167, while the SMA 100 provides support at approximately US$0.000049399. In addition, the Relative Strength Index (RSI) recorded 47.14, reflecting weakening bullish momentum, but did not place SHIB in a deeply oversold area.
Removing tokens from exchanges and retaining them in private custody may reduce the ready-to-use supply. However, exchange withdrawals do not independently prove accumulation, as holders may reallocate assets or return them to the trading platform.
Maintaining SMA 100 support may help price consolidation and provide buyers with the opportunity to challenge SMA 200 resistance again. Conversely, a break below the US$0.0000493 region could intensify bearish pressure and expose prices to levels near previous July lows. As a result, traders can combine their focus on whale movements with the technical structure of SHIB to look for signs of continued holding or broader reallocation.
