On-chain tracking has highlighted two substantial Shiba Inu transfers that together account for roughly 486 billion SHIB moving into unidentified wallets, drawing attention to whale activity and exchange supply dynamics. The first movement involved 125,334,083,223 SHIB—worth approximately $678,000—withdrawn from a BitGo-linked WalletSimple multisignature contract into a freshly created Ethereum address with no prior transaction history.
According to Shiba Inu community member Mazrael, Arkham Intelligence labels the recipient as unlabeled. The BitGo custody wallet had earlier received 600 billion SHIB on September 1 and another 408 billion SHIB on September 6, totaling 1.008 trillion SHIB deposited by two separate whale addresses. One deposit was linked through an intermediary to an early Shiba Inu whale, while the other came from a dormant wallet inactive for roughly three years. Because both deposits entered the same multisignature address, analysts cannot determine which whale ultimately supplied the 125.33 billion SHIB sent onward. The destination wallet has not made any outgoing transactions, leading to speculation about custody segregation, long-term storage, or an over-the-counter settlement rather than immediate selling.
In a separate flow, blockchain analytics flagged about 361 billion SHIB moving out of the South Korean exchange Coinone into a single wallet on September 10. The largest transaction carried 355.27 billion SHIB, valued near $1.87 million, with smaller transfers of 4.29 billion and 1.5 billion tokens following. The receiving address holds roughly $23.53 million in crypto assets, including about $9.68 million in Ethereum and $1.22 million in ONDO, but its owner remains unidentified, so the movement cannot be confirmed as accumulation.
Despite the large withdrawals, SHIB did not stage a bullish reaction. The token traded near $0.00000503, down about 2% on the day and hovering just above a key 2026 support zone. Broader exchange-flow data showed roughly 438.7 billion SHIB leaving exchanges versus 268.1 billion SHIB entering, producing net outflows of about 170.6 billion SHIB. Exchange reserves slipped roughly 0.2% to 87.23 trillion SHIB. Although lower exchange supply is often viewed as reducing immediate sell-side pressure, buyers have not yet converted the outflow trend into higher prices.
