$SHIB Whale Moves 100,000,000,000 Shiba Inu to Coinbase
Recently, a SHIB whale, identified by the wallet address 0x462, made significant trades involving SHIB. According to on-chain data analyst The Data Nerd, the whale deposited 100 billion SHIB, approximately valued at $2.24 million, into a Coinbase account.
This move is part of a broader pattern of large-scale transactions that have occurred within the past week. The Data Nerd’s analysis indicates that the whale accumulated SHIB at an average price of $0.00002408 each and stands to incur a loss of around $178,000 if the tokens are sold at the current price of $0.00002324.
This transaction is just one part of a larger narrative involving SHIB’s liquidity and price stability. Over the last seven days, SHIB has experienced a 6.19% decline in value, underperforming in the context of the broader cryptocurrency market’s 2.60% decline and compared unfavorably to other cryptos within the Ethereum ecosystem, which have seen an average increase of 12.70%.
The transfer of 100 billion SHIB into Coinbase has notably been identified as the seventh largest among the largest SHIB inflows in the past 24 hours. Particularly, the graph of on-chain exchange flow for SHIB shows a varied pattern throughout the day, with a notable spike in inflows and prolonged outflows continuing.
