u.today
Two dormant Ethereum addresses tied to what may be the same Shiba Inu ($SHIB) whale just lit up after about two years of near-zero activity, and the combined move adds up to 933,290,251,691 $SHIB, on-chain data on Arkham shows.
The wallets, "0x58797" and "0x00a63," were originally funded from the same source and then sat there HODLing the asset until a burst of fresh transactions in a single day pushed funds out toward major offshore crypto exchange OKX.
This history matters because both wallets received their big $SHIB chunks around two years ago from the same sending address, one getting about 468.989 billion $SHIB and the other about 464.31 billion $SHIB, which is basically the entire 933.29 billion pile.
Before the OKX moves, both addresses even topped up small amounts of ETH from a MetaMask “gas station,” a classic sign of an owner waking a cold wallet up to pay fees and execute exits.
Is sell-off only outcome for $SHIB?
The outgoing path is the headline: transfers to OKX deposit plus Arkham’s swap log showing multi-million-dollar value transits, the kind of behavior that usually lines up with selling, derivatives collateral or an exchange-side reshuffle that ends with coins basically becoming tradable supply.
On the price side of things, $SHIB is trading around $0.00000742 with the next obvious floor near 0.00000678, so a fresh exchange deposit at these levels can accelerate the downside if buyers keep waiting, and a bounce will look suspect until that OKX flow stops.