Recently, blockchain monitoring platform Whale Alert flagged a significant transaction involving Shiba Inu. The alert reported the movement of approximately 2.87 trillion SHIB tokens, valued at over $36 million, from an unidentified wallet to a Coinbase Institutional address. The transaction has drawn attention across the crypto community, particularly given Shiba Inu’s recent price dip of 2.34% within the past 24 hours. Tracing the Transaction While initial reports referred to the sending wallet as unknown, further investigation revealed that this was not the case. In-depth analysis from blockchain intelligence firm Arkham identified the wallet as belonging to Wintermute , a recognized liquidity provider and market-making firm in the crypto space. Before the SHIB transfer, at 20:53 UTC, Wintermute received the tokens from a BitGo-managed multisignature wallet (identified as “0x808”). BitGo is a well-known custodial service used by institutions to securely store digital assets. This earlier transfer involved not just SHIB but also a substantial amount of Ethereum, 16,650 ETH valued at approximately $43.5 million, which was likewise routed to Coinbase shortly afterward. 2,869,483,918,550 #SHIB (36,603,136 USD) transferred from unknown wallet to Coinbase Institutional https://t.co/EZW4fa0AtU — Whale Alert (@whale_alert) June 4, 2025 Purpose Behind the Fund Movement The transaction was part of a broader sequence of internal capital reallocations rather than an isolated or market-moving event. When market makers such as Wintermute prepare for trading activity, it is common for them to move assets from cold storage or custody platforms like BitGo to active trading environments like Coinbase Prime. These transfers allow for real-time liquidity provision or execution of large trades. Thus, this SHIB movement was not unusual or indicative of investor sentiment changes, but rather a typical step in institutional trading operations. Large-scale transfers of SHIB tokens have become increasingly common and generally do not produce notable price reactions. For example, a wallet linked to GnosisSafeProxy moved 3.36 trillion SHIB to another address earlier this year. Similarly, over 8 trillion SHIB tokens were moved from Crypto.com to unidentified wallets in a series of large transactions. The report indicated that these transfers may have been part of strategic accumulation or internal reallocation. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 These examples underline the importance of analyzing wallet sources and transaction context before concluding market implications. Current Market Status As of report time, the token is trading at $0.00001276. Despite the scale of recent transactions, the price has shown stability, with minimal short-term impact attributed to the observed movements. The recent 2.87 trillion SHIB transfer to Coinbase was not a random or alarming development, but rather a coordinated fund movement involving Wintermute and BitGo, consistent with standard market-making activities. While transactions of this size naturally prompt speculation, closer examination often reveals that such events are part of routine institutional workflows. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Someone Moved 2.8 Trillion SHIB to Coinbase. Here’s What Happened appeared first on Times Tabloid .
