Over the course of the last day, billions of Shiba Inu (SHIB) tokens have been withdrawn from Coinbase, a major U.S. exchange.
In the previous 13 hours, an unidentified whale with the address “0x12F72” has taken out 105.866 billion SHIB from Coinbase, which is equal to $1.99 million at the current exchange rate, according to Arkham Intelligence.
The first of the three transfers was a withdrawal of $253,330, or 13.29 billion SHIB, from the Coinbase hot wallet. A withdrawal of 67.257 billion Shiba Inu tokens from the top U.S. exchange followed, which was four times larger than the initial one. A few hours earlier, an unidentified whale made the third and last retreat to date.
The mysterious large player’s address is brand-new and has never before been mentioned in on-chain reporting.
Shiba Inu (SHIB): Price outlook
The only conclusion is that someone with a lot of money is definitely bullish on the well-known cryptocurrency with meme-inspired designs, even if there is no information on who the anonymous large buyer of Shiba Inu tokens may be or whether this wallet is owned by the exchange itself.
Amid the token’s very intriguing price behaviour, the major U.S. exchange has been taken aback by the mystery SHIB withdrawals. The price of the meme-inspired coin surged Wednesday, momentarily reaching $0.00001933, after settling all week in a narrow range between $0.000019 and $0.0000175 per SHIB.
The pump left a sizable wick to the upward, telling traders that there are buyers prepared to pay higher prices even if it was sold off within the hour.
