u.today
A Coinbase whale just minted itself a Shiba Inu ($SHIB) billionaire — at least on-chain. In a big move tracked by Arkham, a mysterious address got 48.53 billion $SHIB from Coinbase's hot wallet, worth about $422,700 at the time of transfer.
The transaction, which happened just eight hours ago, is one of the biggest single $SHIB withdrawals in the last few days.
The recipient wallet is not new to Ethereum, as it has the "Ethereum First Funder" tag, showing it has been around for a while — but its recent activity shows a clear shift. With a portfolio worth $2.54 million, the address holds 410 ETH, but $SHIB has suddenly jumped to second place, with over $408,000.
While the $SHIB market as a whole dropped by 2.8% today to $0.00000839, the whale's entry suggests that they are building up their position at a price they think is too low for the meme coin. $SHIB recently tried to break above $0.00000900 but could not hold, trading just above key local support levels now.
Potential profit of this Shiba Inu ($SHIB) play
Technical traders are watching the $0.00000699 line as a possible safety net, with targets of around $0.00001102 and $0.00001203 — the next areas of resistance where the Shiba Inu coin has previously encountered pushback.
If the whale's timing is right, that next leg up could lift their position by $160,000 to $200,000.
Arkham's balance history shows the impact. The wallet portfolio shot up from under $500,000 to over $2.5 million in less than two months, with the $SHIB move being the latest catalyst.
It is not clear if this is strategic anticipation of an exchange relisting, meme coin rotation or a more fundamental bet on $SHIB's next cycle, but one thing is clear: this address did not hesitate while retail holders were unsure.