SHIB Whale Moves 202B Tokens to Coinbase

[umair]

Hey folks, big move in the SHIB world today. A major whale just transferred 202.48 billion SHIB—worth about $2.6 million—back to Coinbase after holding for just over two months. Arkham data shows the tokens came from wallet "0x7424" and landed in Coinbase Prime’s hot wallet roughly 16 hours ago.

This wallet had been accumulating SHIB in chunks of 15.42 billion tokens, with a single 833.9 million SHIB transfer, all from Coinbase Prime. The fact that the whale held onto these tokens without flipping them suggests a long-term strategy—until now.

So, what does this mean for SHIB? The price is holding above $0.00001320, a modest 2.87% gain on the day but still shy of the July peak near $0.00001550. The broader trend since mid-July has been a series of lower highs, hinting at hesitation among buyers. Large exchange-bound transfers like this often add to that caution.

Whether this was a straight profit-taking play or a repositioning ahead of volatility is unclear, but it is the kind of transaction that gets noticed. A slip under the $0.00001289 support zone could invite a deeper test of the $0.00001227 area, while pushing past $0.00001350 would give bulls another shot at the $0.00001500 range.

What do you all think? Is this a sign of a bearish trend, or just a whale taking profits? Let's discuss.