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SHIB Coinbase internally transferred 1.16 trillion SHIB tokens without affecting market prices
Coinbase, one of the largest cryptocurrency exchanges in the United States, this week executed a massive internal transfer involving Shiba Inu (SHIB). On-chain records show that the exchange transferred approximately 1.16 trillion SHIB tokens (worth approximately $4.95 million) from its Ethereum infrastructure and transferred them to three wallets created specifically for this purpose.
The transferred SHIB tokens of large amounts of SHIBs transferred into empty wallets
are allocated to three newly generated addresses, each address only holds the SHIBs received in this transaction and no other digital assets. Blockchain analysis platform Arkham Intelligence confirmed the source and path of the funds and pointed out that these wallets were vacant before receiving the tokens.
Two of the large transactions contained 348 billion and 242 billion SHIBs respectively, both from the Coinbase Prime Custody address. Coinbase Prime Custody is a dedicated service for institutional and corporate customers that provides managed management and secure storage.
In addition, the largest sum-573 billion SHIBs-was transferred from another address identified as "0xa59... 447". The address does not have an exchange tag in the Arkham system. Analysts pointed out that "0xa59.447" could be an unmarked associated address of Coinbase, or it could be an external holder transferring assets out of the exchange.
Internal Security and Market Impact
These large-scale transfers were not made through the spot market, so the order book and trading activity of the SHIB exchange were not affected. Instead, all transfers are done in the exchange's internal infrastructure, which is often a common practice on large platforms for custody management, risk reduction and liquidity planning.
Coinbase's move to the new wallet aims to strengthen security protocols and ensure that customer positions are isolated from the exchange's main liquidity pool. Allocating more than 1 trillion SHIBs in this way is a precautionary measure that allows platforms to control internal balances while avoiding triggering immediate trading fluctuations or affecting market sentiment.
Allocating assets to independent external wallets is a typical security and liquidity process for custodians, designed to protect client funds, And avoid having a direct impact on the market.
SHIB prices remain near support
The transfer occurred at a time when the SHIB token trading price approached the key psychological support level of US$0.0000400. The weekly relative strength index (RSI) remains in the range of 33 - 35, indicating that the asset has entered a significant oversold state. Analysts believe maintaining current prices is crucial to avoid a deeper decline and prevent hitting previous year's lows.
These internal transactions were executed near the bottom of the local market, highlighting the intention to retain and consolidate existing positions rather than bringing additional SHIB liquidity to the exchange.
By retaining all transfers in Coinbase's internal infrastructure, the exchange avoids putting pressure on the open market, thereby helping keep SHIB prices above the support threshold.
Internally transferring 1.16 trillion SHIBs avoided any market sell-off and kept prices stable around key levels, even if the asset was oversold.
