Shiba Inu Sees Roller Coaster Price Action as Colossal Whale Withdraws 220 Billion SHIB from Coinbase Prime

At the beginning of this week, the famous cryptocurrency Shiba Inu, which is inspired by memes, experienced a significant increase in the volume of major

A whale has withdrawn 220 billion SHIB from Coinbase Prime Custody, sparking a 2% price surge to $0.0000137 and stirring market excitement.

Shiba Inu (SHIB) sees roller coaster price action

Earlier this week, the meme-inspired cryptocurrency, Shiba Inu, saw a major surge in large transactions, with 9 trillion SHIB spotted on the move.

The SHIB token price action has been on a roller coaster ride, with quotes initially crashing by around 30% and then skyrocketing even higher.

Whale withdraws 220 billion SHIB

As spotted by U.Today, the action among large holders continued with a previously unseen whale withdrawing around 220 billion SHIB, as noted by 0x4B5 address.

The consolidation occurred in two tranches, with the bulk of the tokens arriving 22 hours ago and the remaining tokens, namely 3.55 billion SHIB, arriving seven hours after the first batch.

The yet-unidentified entity already realized $114,370 in their SHIB stash. Moreover, as reported by Arkham Intelligence, the tokens were initially pulled from Coinbase Prime Custody, suggesting that the anonymous acquirer is backed by a financial institution or a qualified investor.

Meanwhile, the meme-inspired cryptocurrency price keeps surging, reaching $0.0000137 at the moment, up 2%.

SHIB price hit $0.000011 at market bottom

At the bottom of the recent market shakeout, SHIB was trading at $0.000011, which means that we have seen a 29% gain in just over three days.

That being said, Shiba Inu is still a multi-billion dollar asset.

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