In the latest crypto update, a Shiba Inu whale that had remained largely inactive for more than three years has suddenly returned to the market after transferring 407.99 billion SHIB to the BitGo crypto exchange.
The unidentified wallet first became active in July 2023, when it received 600 billion SHIB. However, the address recorded no further activity until July 2025, when it received approximately 42.06 million AMERICA tokens.
The wallet then remained dormant until yesterday, when it executed two transactions involving a combined 407.99 billion SHIB. At the time of the transfers, the tokens were worth approximately $2.21 million.
Transaction Details
Notably, the whale did not send the SHIB directly to BitGo, according to Arkham data. Instead, the 407.99 billion tokens first moved to a forwarder address associated with distribution activity before reaching the exchange.
This movement stands out because investors often monitor large deposits to centralized exchanges for potential selling pressure. Nevertheless, the transfer alone does not confirm that the whale has sold, or intends to sell, the tokens.
Moreover, the wallet has not completely depleted its SHIB holdings. It still controls 192 billion SHIB, worth around $1.05 million at the current market price. SHIB also remains the wallet’s most valuable asset by dollar value.
Whale Activity Mirrors Recent SHIB Movement
The latest transaction also resembles another major whale movement recorded last week.
An early Shiba Inu investor who turned an investment of roughly $13,000 into billions of dollars during SHIB’s 2021 rally also transferred 600 billion SHIB to BitGo.
The similarities have attracted attention because both transactions involved substantial SHIB holdings moving to the same exchange. However, the identities of the wallet’s owners remain unconfirmed. Therefore, the transactions do not establish whether either holder ultimately intends to sell.
SHIB Exchange Outflows Remain Higher
Despite the latest whale deposit, broader exchange-flow data does not currently point to significant net selling pressure for SHIB.
According to CryptoQuant data, 40.84 billion SHIB left exchanges over the past 24 hours. In other words, more SHIB flowed out of exchanges than entered them during that period.
This trend could help offset concerns surrounding the dormant whale’s transfer. However, exchange netflows can change rapidly as new transactions occur.
SHIB Maintains Recent Price Momentum
Meanwhile, SHIB continues to trade higher despite the whale’s activity. The token is currently priced at approximately $0.000005561, representing a 2.56% gain over the past 24 hours. With a market cap of roughly $3.27 billion, SHIB ranks as the 28th-largest cryptocurrency globally.
The CoinRemark Team
