Cryptocurrency Market Shaken as Prominent Shiba Inu Investor Switches to Bearish Stance, Causing Stir on Coinbase Platform
In a recent development, a significant Shiba Inu (SHIB) whale associated with Coinbase has transferred approximately 202.48 billion SHIB tokens, worth around $2.6 million, back to the exchange. The transfer, which was made from wallet "0x7424" to Coinbase Prime's hot wallet about 16 hours ago, has sparked discussions within the cryptocurrency community.
This move comes after the whale had held the tokens for just over two months. The exact nature of this transaction—whether profit-taking or repositioning—remains unclear. However, the tokens stayed put in the wallet for over two months without any short-term flipping, suggesting a strategic decision by the whale.
The transfer may indicate a bearish sentiment on the part of the whale regarding the Shiba Inu (SHIB) coin. However, it's essential to note that the broader context shows a surge in whale activity in early to mid-August, with hundreds of billions of SHIB transferred by large holders. Despite this large movement, SHIB's price remained relatively stable, which may indicate that whales are accumulating while retail enthusiasm wanes.
Market analysts view this as a bullish indicator, especially combined with increased token burning that reduces supply and supports price stability. The current price of SHIB is holding above $0.00001320, representing a 2.87% gain on the day.
The increased whale activity on Coinbase reflects strong institutional interest, potential accumulation for long-term gains, and confidence linked to Shiba Inu's strategic expansions and supply management. Notably, a whale acquired approximately $1.66 million worth of SHIB (132.35 billion tokens) in a few large transfers on August 19, 2025, and these tokens have remained unmoved, suggesting a holding strategy rather than short-term trading.
Another major whale moved an even more substantial quantity—3 trillion SHIB ($39 million) from Coinbase to a self-custody wallet around August 16–18, 2025. This move coincided with Shiba Inu’s plans to expand onto multi-chain platforms like Base and Solana, potentially enhancing its ecosystem and adoption prospects. The whale’s behavior, involving a new wallet and a first-time large purchase, underscores a long-term investment thesis rather than speculative activity.
Experts caution that such whale behavior alone should not be the sole basis for price predictions given the token's historical volatility. However, the trend since mid-July has been a series of lower highs, suggesting hesitation among buyers. The price is still below the July peak near $0.00001550.
In a separate development, top Shiba Inu developer Godfrey Benjamin has broken his silence regarding the LEASH supply boom. The details of his statement are yet to be disclosed, but it's expected to provide some insights into the project's future direction.
In conclusion, while the recent transfer of SHIB tokens by a large whale may seem bearish, the broader context suggests a bullish outlook driven by institutional interest, long-term accumulation, and strategic expansions. However, investors are advised to exercise caution due to the token's historical volatility.
- The whale, who made a significant transfer of Shiba Inu (SHIB) tokens worth around $2.6 million back to Coinbase, had earlier acquired approximately $1.66 million worth of SHIB around August 19, 2025.
- Market analysts see the increased whale activity on Coinbase as a bullish indicator, fueled by strong institutional interest, potential long-term gains, and confidence in Shiba Inu's strategic expansions and supply management.
- Another whale moved an even more substantial quantity—3 trillion SHIB ($39 million)—from Coinbase to a self-custody wallet around August 16–18, 2025, a move that coincided with Shiba Inu’s plans to expand onto multi-chain platforms like Base and Solana.
- The currently ongoing LEASH supply boom has been addressed by top Shiba Inu developer Godfrey Benjamin, who has broken his silence regarding the issue, providing potential insights into the project's future direction.
