A significant Shiba Inu whale transferred 202.48 billion SHIB (worth $2.6 million) to Coinbase Prime's hot wallet after holding the position for just over two months, according to Arkham Intelligence data. The transfer from wallet "0x7424" marks the first major outflow since the whale's accumulation phase, where they methodically acquired SHIB through multiple identical 15.42 billion SHIB blocks from Coinbase Prime.
Simultaneously, IntoTheBlock reported a 218% surge in SHIB whale transaction volume over 48 hours – skyrocketing from $17.43 million on August 10 to $38.09 million on August 11. This activity occurred while SHIB's price remained stagnant, dropping from nearly $0.000014 over the weekend to $0.000013 by Monday, suggesting these weren't profit-taking moves but potential long-term positioning.
SHIB currently trades around $0.00001280-$0.00001320, below July's $0.00001550 peak. Technical analysis indicates a break below $0.00001289 support could test $0.00001227, while surpassing $0.00001350 resistance might reignite momentum toward $0.00001500. The conflicting whale activities – one exiting and many others transacting heavily without price impact – create market uncertainty about SHIB's near-term trajectory.