TLDR:
This Monday, January 12, the crypto market witnessed an aggressive accumulation maneuver. Data from Arkham indicates that a mysterious address became a “token billionaire” after withdrawing 48.53 billion SHIB from Coinbase.
The financial operation, valued at approximately $422,700, represents one of the most significant individual withdrawals in recent days and has turned the sector’s full attention to the Shiba Inu price.
Despite the market falling nearly 2.8% this Monday, placing the valuation at $0.00000839, this investor apparently took advantage of what they consider a valuation floor.
The wallet in question, identified as “Ethereum First Funder,” saw its total portfolio skyrocket from $500,000 to over $2.5 million in just two months, consolidating the Shiba Inu price as its second-largest holding after Ethereum.
From a technical standpoint, this movement suggests that institutions or large capitals are building strategic positions. Although the Shiba Inu price recently attempted to break the $0.00000900 resistance without success, current levels appear attractive to those operating with a long-term vision.
Now, the asset remains just above key local support levels.
Analysts suggest that if the $0.00000699 support holds firm, the next bullish target for the Shiba Inu price would sit between $0.00001102 and $0.00001203.
If the whale correctly timed their entry, this operation could generate net profits of between $160,000 and $200,000 in the next bullish cycle.
While retail investors show indecision in the face of volatility, whales do not hesitate. This massive withdrawal from Coinbase to a private wallet reduces the circulating supply on exchanges—a factor that generally precedes recovery movements.
In summary, whether through a strategic memecoin rotation or a fundamental bet on the ecosystem, this address has made its confidence in the asset’s recovery potential very clear.
