Over 10.76 billion Shiba Inu (SHIB) tokens, collectively worth about $153,337, made their way to ByBit earlier today courtesy of a large and mostly inactive wallet. Though the address has seen limited movement over the past year, it carried out this transfer in two parts: one major involving 10.768 billion SHIB and one smaller follow-up involving 15 million SHIB.
In both cases, the tokens were directed to the same ByBit deposit address.
Taking a look at the wallet’s history, this is the first major SHIB transaction in nearly a year. The last one occurred when 1.6 billion SHIB were sent to KuCoin. Shortly before that, it received substantial SHIB inflows from Binance hot wallets, including transactions of 12 billion, 178 million and 198 million SHIB.
But since then, activity on the address has been quiet — until today.
Around the time of the transfer, the price of the meme coin was trading at around $0.00001419, having cooled off recently after reaching local highs. Based on the current chart, SHIB is sitting above its 50-day moving average, with the price consolidating just below the resistance level of $0.000017.
Given this context, timing of the whale’s move suggests either taking advantage of past gains or preparing to exit a long-held position.
There is not much in the wallet anymore; with a total value of just over $213, its balance now includes small amounts of ETH, BNB and a few smaller tokens. Therefore, the SHIB transfer was likely a complete exit rather than a rebalancing.
