u.today
Over 10.76 billion Shiba Inu ($SHIB) tokens, collectively worth about $153,337, made their way to ByBit earlier today courtesy of a large and mostly inactive wallet. Though the address has seen limited movement over the past year, it carried out this transfer in two parts: one major involving 10.768 billion $SHIB and one smaller follow-up involving 15 million $SHIB.
In both cases, the tokens were directed to the same ByBit deposit address.
Taking a look at the wallet's history, this is the first major $SHIB transaction in nearly a year. The last one occurred when 1.6 billion $SHIB were sent to KuCoin. Shortly before that, it received substantial $SHIB inflows from Binance hot wallets, including transactions of 12 billion, 178 million and 198 million $SHIB.
But since then, activity on the address has been quiet — until today.
Around the time of the transfer, the price of the meme coin was trading at around $0.00001419, having cooled off recently after reaching local highs. Based on the current chart, $SHIB is sitting above its 50-day moving average, with the price consolidating just below the resistance level of $0.000017.
Given this context, timing of the whale’s move suggests either taking advantage of past gains or preparing to exit a long-held position.
There is not much in the wallet anymore; with a total value of just over $213, its balance now includes small amounts of ETH, BNB and a few smaller tokens. Therefore, the $SHIB transfer was likely a complete exit rather than a rebalancing.