A mysterious Shiba Inu (SHIB) whale has just stunned the crypto community by transferring 198.17 billion SHIB tokens, worth approximately $2.71 million, to Coinbase, one of the largest U.S.-based exchanges. The transaction, which occurred roughly 16 hours ago, has sparked speculation that the whale either exited its position or is preparing to do so, locking in a sizable profit.
Whale Accumulated SHIB Just Weeks Ago
According to on-chain data from Arkham Intelligence, this same wallet had previously received three large SHIB deposits from Coinbase between one month and three weeks ago. The wallet accumulated:
- 87.28 billion SHIB
- 32.20 billion SHIB
- 78.67 billion SHIB
Combined, these transactions totalled 198.15 billion SHIB, nearly matching the amount recently sent back to Coinbase. At the time of the initial inflows, the value of these tokens sat around $2.41 million, indicating the whale has now realised roughly $300,000 in profit.
SHIB Price Surge Creates Profitable Exit
The whale’s strategic timing appears tied to SHIB’s bullish performance throughout April. Earlier in the month, the wallet’s balance hovered near $1 million. As the memecoin rallied, the balance swelled to a peak of $2.7 million, indicating that the whale held through the uptrend and exited at or near the local high.
Although it’s unclear whether the move was triggered by technical signals or simply opportunistic timing, the outcome is obvious: a highly efficient round trip with a decent return.
Coinbase Connection Raises Eyebrows
Interestingly, the entire transaction history indicates that Coinbase serves as both the source and destination of the tokens. This has led some analysts to speculate that the event was less a retail whale’s accumulation and cash-out, and more an exchange-internal asset shuffle.
However, even if that’s the case, the trading pattern follows a clear logic: accumulate during low volatility, and offload during a bullish breakout.
Related article: Shiba Inu’s Price Mirrors Past Fractal: Why Analysts Say This Could Be a Perfect Entry Point
This latest move serves as a reminder that even in the crowded memecoin market, opportunities for sharp, short-term profits still exist. A $300K gain in under a month, achieved through strategic positioning, proves that Shiba Inu remains a viable asset for traders who understand the timing.
Whether this move marks the beginning of more SHIB volatility or remains an isolated event, one thing is sure: whales are watching, and they’re cashing in.
