Mystery Wallet just pulled over 111,518,676,500 Shivs from Coinbase, the top US crypto exchange. To make it easier to understand, approximately $1.33 million meme coins shipped at once.
This is in addition to Shib’s $1.1 million submitted just three days ago. This is the same sender and destination, and the wallet currently has an impressive 207.5 billion shibe, which is almost $2.5 million.
There is no name, no known funds or movement tied to it. Anyone who hasn’t turned this upside down, they’re sitting there. That makes me wonder: why load this heavy thing, and why now?
Look at the big picture, and the timing makes sense. Shiba Inu prices are just above the historical demand zone that has not been breached since late 2022. This is usually the case with big money starting to show interest.
This is also unlikely to be retail ingested. These coins came directly from Coinbase’s hot wallet, so they probably went through the OTC route or the high level institutional pipeline. Buyers know what it is or bet that the rest of the market will catch up soon.
Shiv has been waning in the background for months, and traders have been chasing new stories, but this kind of deep pocket movement tends to quickly resurface attention. A two-day $2.4 million stack is not just a coincidence. Also, it won’t happen unless someone sees that the crowd doesn’t.
It depends on whether this is the beginning of a larger siv rotation or if another ghost whales continue to stack for longer distances. But one thing is certain, 111.5 billion Siv has just left Coinbase and someone is playing a bigger game.