Coinbase has transferred more than 1.16 trillion Shiba Inu tokens through three large transactions, drawing attention from on-chain observers.
According to blockchain data from Arkham Intelligence, the Shiba Inu transfers did not pass through the spot market order book. Instead, Coinbase moved the tokens from its Prime Custody wallets to three newly created wallets with no prior transaction history, suggesting the transfers were internal rather than customer-driven market transactions.
Coinbase Massive Shiba Inu Transfers
The first transaction saw Coinbase transfer 242,132,753,815 (242.13 billion) $SHIB from its Coinbase Prime Custody wallet (0x674) to a newly created wallet. Shortly afterward, the exchange moved another 348,080,545,216 (348.08 billion) $SHIB from the Coinbase Prime Custody wallet (0x937) to a different newly created address.
The largest transfer involved 573,000,000,103 (573 billion) $SHIB, which originated from an unmarked wallet (0xa59) during the same hour as the first two transactions. Although this address was not explicitly labeled as a Coinbase wallet, blockchain analysts believe the transfer was also initiated by Coinbase because of its timing and transaction pattern.
Combined, the three transactions totaled 1,163,213,299,134 (1.16 trillion) $SHIB, all completed within 30 minutes.
Internal Custody Management Likely Behind the Transfers
The transactions appear to represent an internal wallet reorganization rather than buying activity.
Large cryptocurrency custodians and exchanges routinely distribute digital assets across newly created wallets to strengthen security, optimize liquidity management, and improve operational efficiency.
Since the transfers occurred between wallets believed to be controlled by Coinbase, they are not considered direct indicators of market demand or selling pressure. As of press time, all three newly created wallets continue to hold the transferred $SHIB tokens, with no subsequent outbound transactions recorded.
Coinbase’s wallet reshuffle comes shortly after Binance conducted a similar internal transfer involving 400 billion $SHIB. Like the Coinbase transactions, Binance’s move appeared to be an operational wallet reallocation rather than an exchange sale.
$SHIB Continues Push to Reclaim Top 30 Ranking
Meanwhile, Shiba Inu continues its effort to regain a position among the world’s 30 largest cryptocurrencies by market capitalization.
At press time, $SHIB ranks 31st in the global crypto standings with a market cap of $2.49 billion. The meme-inspired cryptocurrency trails Tether Gold (XAUt), which currently ranks 30th with a market value of around $2.52 billion.
$SHIB is trading at $0.000004231, while its 24-hour trading volume has spiked 5.74% to $43.56 million, reflecting sustained market activity as investors monitor both on-chain movements and broader market conditions.