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Approximately 10.76 billion Shiba Inu (SHIB) tokens, with a combined value of around $153,337, were sent to ByBit today from a large, primarily inactive wallet. This wallet, which has had minimal activity over the past year, executed this transfer in two stages: one significant transaction amounting to 10.768 billion SHIB and a smaller subsequent transaction of 15 million SHIB.

In both cases, the tokens were directed to the same ByBit deposit address.

Looking at the transaction history of the wallet, this is the first significant Shiba Inu (SHIB) transaction in close to a year. The previous one took place when approximately 1.6 billion SHIB were sent to KuCoin. Prior to that, it received large amounts of SHIB from Binance hot wallets, including transactions amounting to 12 billion, 178 million, and 198 million SHIB.

But since then, activity on the address has been quiet — until today.

As the transfer took place, the meme coin’s value was approximately $0.00001419 on the trading floor. It had slightly dropped in value following a spike at local peaks. At present, SHIB is positioned above its 50-day moving average, and the price seems to be stabilizing just shy of the resistance level, which stands at $0.000017.

In light of the situation, the whale’s action seems to indicate either capitalizing on previous profits or planning to sell off a position it has held for a long time.

The wallet doesn’t have much left; it currently holds around $213, with modest amounts of ETH, BNB, and some smaller cryptocurrencies. This suggests that the SHIB transfer might have been a full withdrawal instead of an adjustment to the portfolio balance.

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2025-05-20 17:53