Coinpaper 2026-02-24 20:14:04

Will SHIB Price Drop? Dormant Whale Deposits 349 Billion Tokens to Bitget in Hours

A long-dormant Shiba Inu whale has transferred more than 349 billion SHIB tokens to Bitget in a matter of hours, signaling a deliberate repositioning of one of the more closely watched crypto wallets on-chain. The move drew attention from analysts and traders alike, as the wallet identified by the address prefix ”0xa145Bd8C9E” had remained largely inactive for over a year before executing the transfers. The largest single transaction involved 203.53 billion SHIB, valued at approximately $1.2 million at the time of transfer. Earlier that day, the wallet moved 71.27 billion SHIB, worth around $421,000, followed by two smaller transfers of 37.58 billion and 37.13 billion SHIB. Combined, the outflows represent nearly 30% of the wallet's previous on-chain balance, a significant reduction by any measure. Scale of the Transfer and What Remains Despite the size of the outflow, the wallet is far from empty. It retains 371.04 billion SHIB, currently valued at approximately $2.19 million. That holding is part of a broader portfolio estimated at $8.44 million, where SHIB ranks as the second-largest position. The top holding is PEPE, with 1.31 trillion tokens worth roughly $5.13 million. The portfolio composition suggests the holder is not a SHIB-only investor but rather a multi-asset crypto whale with concentrated positions across meme-based tokens. The decision to move SHIB specifically while leaving PEPE untouched adds context to the nature of the transfer. At a spot price near $0.0000059 per token, the 203 billion SHIB sent to Bitget represents notable liquidity on a single exchange. It is not large enough to move the broader market, given SHIB's daily trading volumes across global platforms, but it is large enough to influence price action on Bitget in the short term if the tokens are sold. Origins of the Holdings and Exchange History Historical blockchain records show the wallet accumulated its SHIB position through multiple Binance-related transactions. These included a series of deposits ranging from 1 billion to 2.14 billion SHIB, along with interactions tied to Binance hot wallets. The accumulation occurred over an extended period, after which the wallet went quiet. The transition from Binance-sourced holdings to a Bitget deposit marks a clear shift in strategy. Moving assets from cold or self-custodied storage to an active exchange is a standard precursor to trading activity. Whether that activity involves spot sales, futures collateral, or options positioning remains unclear. However, dormant wallet inflows to exchanges have historically preceded at least partial liquidation events.

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