Whale Withdraws 5 Trillion SHIB from Coinbase Institutional Amid Price Drop

An anonymous investor moved 5 trillion Shiba Inu (SHIB) tokens, valued at around $70 million, from Coinbase Institutional to a newly created on-chain wallet. The tokens remain unmoved, suggesting a long-term hold that reduces immediate selling pressure. This transfer coincided with an 11% drop in SHIB’s price to $0.00001343 amid a broader crypto market downturn. The whale’s sizable move highlights significant activity in the Shiba Inu market and could influence investor sentiment.