Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesStocksEarnInstitutionAI & More
400 billion shib worth $1.89 million moved after pause

400 billion shib worth $1.89 million moved after pause

CointurkCointurk2026/06/08 16:12
By:Cointurk

A major Shiba Inu investor has withdrawn 400 billion SHIB tokens from a Gnosis Safe Proxy smart contract, ending nearly a month of inactivity. On-chain data shows that this transfer rapidly turned the address, which had previously only held negligible amounts of other third-party tokens, into an active wallet holding SHIB worth $1.89 million.

The structure of the transfer draws attention

This transaction signals a noticeable change in how these assets are being managed. Rather than being kept in a custodial solution that requires multiple signatures, the tokens were moved to a new external wallet. In the crypto market, such moves are not typically seen as ordinary holding patterns for long-term storage.

Glossary: Gnosis Safe is a multi-signature wallet platform that allows transactions to be executed only with the approval of multiple signers. OTC, or over-the-counter, refers to direct trades between parties that occur outside the public exchange order books.

Moving tokens from a secure structure requiring multiple approvals to a new address controlled by a single key is not typically perceived as just a standard custodial preference in the on-chain market.

The wallet’s on-chain history indicates a recurring pattern, with the same investor making similar SHIB accumulations one and two months ago, each followed by roughly a 30-day period of silence before another transfer emerged.

Timing and wallet details stand out

At the time of the transfer, SHIB was trading at $0.00000472. The move took place while the price was consolidating, drawing interest due to its timing. The wallet’s composition suggests a setup tailored for a particular market strategy.

Data reveal that SHIB makes up 99.4% of the portfolio’s value. The wallet also holds 9.99 ETH worth around $16,600, $52 in SKYA, and $5.70 in BASED. These smaller holdings are likely remnants of earlier swaps or serve technical purposes.

Asset Amount Estimated value
SHIB 400 billion $1.89 million
ETH 9.99 $16,600
SKYA Not disclosed $52
BASED Not disclosed $5.70

With Arkham data showing no movement of tokens to hot wallets belonging to centralized exchanges like Binance or Coinbase, there is currently no sign of direct sell pressure on order books.

The fact that the tokens have not been sent to addresses linked to any central exchanges implies there is no immediate sell-off affecting the market. This suggests that the transfer may be in preparation for a private and possibly off-exchange deal, or that a large market player is accumulating liquidity in this price zone to provide support.

Such significant, non-exchange transfers are often watched closely for signals that can affect market sentiment. Market participants monitor both timing and wallet restructuring to anticipate potential trading patterns.

These repetitive large SHIB accumulations hint at a long-term investor’s methodical approach rather than a spontaneous selling intention. Patterns show previous transfers led to extended quiet periods without major market moves.

The transfer mechanism and recurring behavior highlight the influence of large holders in the $SHIB ecosystem, occasionally setting the stage for broader market shifts or price stabilization initiatives.

Overall, the latest movement underscores the strategic portfolio decisions that large digital asset investors make, with implications for market structure that extend beyond simple buy-and-hold activity.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Federal Reserve Chairman Waller: AI is the most profound economic transformation of my lifetime; the FOMC meetings in October and December are crucial

Walsh emphasized that the Federal Reserve is clearly committed to achieving price stability and does not support prematurely predicting the outcome of monetary policy meetings or disclosing possible policy actions for the remaining meetings in 2026 in advance. Inflation is not an issue unique to the United States. Currently, most regions around the world are tightening monetary policy simultaneously, which means no country can "free ride." Walsh also announced that the Federal Reserve’s Productivity and Employment Working Group will hold a field hearing in the San Francisco Bay Area on November 16 to examine a variety of issues, including the economic impact of artificial intelligence.

华尔街见闻•2026/10/16 06:46
Federal Reserve Chairman Waller: AI is the most profound economic transformation of my lifetime; the FOMC meetings in October and December are crucial

Will the expansion of U.S. Treasury repo become normalized? Will long-term bond issuance be reduced? Tonight, the U.S. Treasury Department will release a key signal.

Deutsche Bank pointed out that there are two key aspects to this survey: first, whether the expansion of long-term U.S. Treasury repo operations will become permanent; second, whether there will be a direct discussion about "eliminating 20-year U.S. Treasuries." Among them, the possible abolition of 20-year U.S. Treasuries is an extremely impactful potential topic. If this is explicitly addressed, it would be seen as a major policy signal from the Treasury Department in response to high yields, and is expected to trigger significant turbulence in the bond market.

华尔街见闻•2026/10/16 06:31
Will the expansion of U.S. Treasury repo become normalized? Will long-term bond issuance be reduced? Tonight, the U.S. Treasury Department will release a key signal.