Coinbase Prime moved over 142.7 billion SHIB tokens - worth just above $2 million at the time - to a previously inactive wallet without explanation or follow-up, as became known thanks to Arkham Intelligence. The transfer, which was made about 15 hours ago, has raised some questions because its size, structure and the fact that it does not seem to have an obvious purpose have people scratching their heads.
The transactions came directly fromCoinbase Prime’s hot wallet, which is commonly used for client servicing and institutional flows.
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There were 11 transfers in total: 10 identical transfers, each moving 13.546 billion SHIB worth around $191,670, followed by one smaller transfer of 7.25 billion SHIB. The same address, "0x39d1," was used by all of them, and no prior on-chain history was found there.
What makes this stand out is not just the volume but the destination. The receiving wallet has not engaged with any other on-chain elements. No tokens have left the address, no trades have been made and no connection has been found to any known client or platform.
As of press time, the wallet still holds the full amount ofSHIB and has not moved since the initial deposit.
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Coinbase Prime typically handles large institutional activity. This includes custody, execution and settlement. Thus, outbound transfers of this scale are not unusual in themselves. But this one is different due to the lack of destination clarity or attached context.
On the day, minor gains were shown byShiba Inu (SHIB) itself, which was trading slightly higher at around $0.000015.
It is not clear what the deal is here. Is this part of a larger strategy or just a typical shift to cold storage or third-party custody?
