106.274.356.242 SHIB Mystery Impresses Major US Exchange Coinbase

As it became known thanks to Arkham's data, over $1.6 million in Shiba Inu (SHIB) tokens were transferred from a hot wallet of Coinbase to an unknown address earlier today.

A total of 106,274,356,242.89 SHIB tokens - collectively valued at around $1.6 million at today's prices - left a hot wallet of a popular cryptocurrency exchange and was directed to an unknown address. The receiving wallet, 0xF9F08451, is not linked to any major exchange or known service, so its purpose is uncertain.

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This transaction occurred about eight hours ago, and the total balance remains untouched in the destination wallet. There are no other tokens held there, and no follow-up activity has occurred so far.

What stands out is that this transfer goes against the prevailing on-chain trend of the last week. Data indicates that more SHIB has been flowing into exchanges recently, rather than out.

The on-chain exchange flow chart shows net increases in inflows since May 10, with green bars reflecting this. This suggests that some holders may be preparing for future selling opportunities. Unlike this trend, this large outflow from Coinbase may indicate a different type of strategy or intent.

At the time of the transfer, the price of SHIB was approximately $0.00001504, slightly down for the day, but still above its support zone after a short-term rally earlier in the month.

So far, the market has not reacted much to the transfer.

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As the identity of the receiving wallet is unknown, this type of large transaction involving high-profile platforms like Coinbase tends to attract attention.

Regardless of what this transaction signals - a shift to private custody, a move to a cold wallet, or something else - it is noteworthy, not least because most of the SHIB has gone in the opposite direction this week.