On July 22, Arkham Intelligence flagged a withdrawal of 1.16 trillion Shiba Inu tokens, worth roughly $4.95 million, out of Coinbase's Ethereum infrastructure. The entire sum landed in three brand-new wallets with no prior history and no other assets inside them.
Two of the three transfers are easy to trace. Batches of 348 billion and 242 billion SHIB came directly from verified Coinbase Prime Custody addresses, a service reserved for large institutional and corporate clients. Distributing holdings across freshly created, isolated addresses is a routine custody operation: it serves internal security and helps manage liquidity without touching the public order book. That is why nothing moved on exchanges when the transfer went through.
Where the biggest chunk came from is still unclear
The largest single piece, 573 billion SHIB, left a wallet labelled "0xa59...447" in Arkham's system. That address carries no exchange tags. It could be an unmarked internal Coinbase structure, or it could belong to a large private holder who simply chose to move assets at this moment. No confirmation either way.
Meanwhile SHIB is trading right around $0.000004249, clinging to what traders have been watching as a psychological floor near $0.00000400. The weekly RSI sits at 33 to 35, a zone that typically signals heavy overselling. If that support breaks, the next reference points are lows from previous years.
So the trillion-token move looks less like a market signal and more like a back-office reshuffle, timed or not, during a stretch when the token is already under pressure.
This article is for informational purposes only and does not constitute financial advice. Crypto markets carry significant risk; always do your own research before making any investment decisions.
