A dormant Shiba Inu wallet has suddenly withdrawn 400 billion SHIB from a Gnosis Safe Proxy smart contract in a single transaction, reigniting whale-watching interest. The address, quiet for over a month, now holds an estimated $1.89 million portfolio, with SHIB making up 99.4% of its value. No transfers to centralized exchange hot wallets like Binance or Coinbase were recorded, leaving the move open to interpretation—either preparation for an over‑the‑counter deal or local accumulation at current prices.
The timing fits a pattern of similar bursts followed by weeks of silence, suggesting deliberate market strategy rather than routine wallet cleanup. The shift from multisig custody to an external address further hints at a change in ownership posture, making the tokens more readily movable.
Meanwhile, on‑chain exchange flow data shows nearly 257.9 billion SHIB left trading platforms within 24 hours, creating a sharply negative netflow. This large‑scale withdrawal decreases immediate sell‑side liquidity and often indicates holders moving coins to self‑custody for longer‑term storage. SHIB’s price chart remains under pressure, trading below all major moving averages after breaking out of an ascending channel, but the Relative Strength Index has dropped to oversold levels around 26. Historically, such conditions, coupled with declining exchange reserves, have preceded relief rallies.
The combination of a silent whale absorbing 400 billion SHIB and hundreds of billions more exiting exchanges paints a more constructive short‑term setup for the meme token, even though the broader trend remains bearish.
