2.87 Trillion SHIB Shocking Listing on Coinbase!

2,87 Trillion Shib Surprises Major US Exchange Coinbase

5 June 2025 on 09: 24

Reading time: 2 minutes

Massive Transfer of SHIB Tokens to Coinbase Institutional

Shortly after midnight, a notable transaction took place where 2,86 trillion SHIB tokens, worth $36,6 million, were transferred to Coinbase Institutional. These tokens came from a wallet that was previously not linked to a major exchange, setting off alarm bells on blockchain tracking platforms.

Analysis of the Transmitter and Receiver

Blockchain data reveals that the sender address — “0x2E2…AaEf” — had held onto a significant portion of its SHIB portfolio before divesting most of it. Despite this, the wallet still holds over 30 billion shib, although it has now been largely stripped of its largest assets. The receiving address, on the other hand, is tied to Coinbase Prime, the institutional arm of the US-based cryptocurrency exchange. Such wallets are typically used by hedge funds, market makers or high net worth clients for large-scale custody or over-the-counter transactions.

Speculations about the Wintermute Connection

There is speculation that the sender wallet may be connected to Wintermute, one of the more well-known trading firms in the sector, although this connection has not yet been officially confirmed. So far, neither Coinbase nor any other party involved has made any public comment on this transaction.

Impact on Shiba Inu Coin Price

Notably, the price of the Shiba Inu coin barely fluctuated in response to this transaction. The token is currently trading at $0,00001282 and has been showing a gradual decline since late May. The charts do not show an immediate spike in trading volume following the transfer.

Meaning of the Transaction to Coinbase Institutional

What makes this transfer particularly interesting is not just the dollar value, but more importantly the destination. Transfers of this size to Coinbase Institutional often indicate some preparation for action, whether in the form of a large sale, strategic holding, or participation in internal trade flows. There is no overarching narrative to this transaction at this point, but a $36 million shift to one of the largest institutional platforms in the United States is certainly impressive and closely watched. So far, it’s on-chain, confirmed, and has the SHIB community watching intently.

Frequently Asked Questions

What are SHIB tokens?
SHIB tokens are a cryptocurrency that was created as a meme and is derived from the Shiba Inu dog. It is named after the same breed that formed the basis for the popular Dogecoin.

Why is the transaction to Coinbase Institutional important?
Transfers to Coinbase Institutional often imply that the fund manager is preparing for significant actions, such as sales or large investments, which could impact market dynamics.

What is Coinbase Prime?
Coinbase Prime is an exchange platform specifically designed for institutional investors, where they can manage and trade large amounts of money without the usual volatility of retail markets.

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