A majorShiba Inu (SHIB) transfer has hit theEthereum blockchain as 258.5 billion SHIB, worth approximately $3.56 million, were sent from Coinhako’s hot wallet to an external address, "0x25E," that now holds nearly $4.08 million in SHIB alone.
The move, recorded around seven hours ago, comes from Coinhako — a licensed crypto exchange based in Singapore and serving much of Southeast Asia. While the destination wallet appears to be unlabelled, it has now been linked to previous SHIB inflows and outflows involving Binance and holds multiple altcoins, including PEPE, GALA and XSGD, a stablecoin pegged to the Singaporean dollar.
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So, who's behind it? On-chain data shows two possibilities: either a Singapore-based high-net-worth whale using Coinhako for custody and accumulation, or Coinhako itself reorganizing funds internally across operational wallets.
The wallet holding SHIB has seen a mix of deposits and withdrawals recently. It has also been sendingSHIB to Binance in smaller batches over the past 72 hours. But this $3.5 million deposit is the biggest single transaction it has received so far, so it is a key address to watch for more big-time investors or exchange activity.
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Its total portfolio is now over $4.76 million, with SHIB making up the majority. The size, timing and method of the transfer suggest that this is not a casual user but a more organized actor — either a sophisticated whale or Coinhako managing cold wallet rotations.
For now, the real identity remains unclear, but one thing is certain: large-scaleShiba Inu positioning in Asia is not slowing down — and this wallet just became one of the biggest to watch.
