Dormant Shiba Inu whale moves 400B SHIB after 10 months
A dormant Shiba Inu (SHIB) whale has reactivated after nearly 10 months, moving ~400 billion SHIB and drawing attention as the broader crypto market slips.
According to Arkham Intelligence, the holder first sent a test transfer of 10 million SHIB via MetaMask. Soon after, the whale routed about 399.99 billion SHIB through BitGo’s Forwarder Smart Contract in three transactions (111.9B SHIB, 189.9B SHIB, then 98.9B SHIB). Afterward, the wallet reportedly retained only 110 SHIB, effectively emptying the address.
The use of BitGo Forwarder makes it unclear whether the tokens were sold. The article notes such infrastructure can be used for consolidation, cold-storage moves, or OTC flows—so the transfer alone may not equal immediate exchange selling pressure.
Market impact signals remain negative. SHIB is down 17.71% over the past week and has lost the $0.000005 psychological support level. At the time of writing, SHIB traded near $0.000004535 (down another 3.78% in 24 hours).
Derivatives also show stress: CoinGlass data indicates more than $382,000 in SHIB futures were liquidated over the past 24 hours (~84.45B SHIB). Long liquidations totaled ~$365,660, versus ~$17,320 for shorts.
Bearish
This news is framed around a SHIB whale reactivating and moving ~400B SHIB, but the tradable signals in the article lean bearish. First, SHIB is already in a clear down move: -17.71% over a week and a break below the $0.000005 psychological support. Second, the derivatives data shows real positioning pain—$382K+ SHIB futures liquidations in 24 hours, dominated by long-liquidations. That pattern usually coincides with bearish momentum and forced selling by leveraged traders.
Even if the whale transfer doesn’t prove an exchange sale (BitGo Forwarder can mask direct selling), traders typically treat large dormant-asset movements as a catalyst that can increase uncertainty during a drawdown. In prior market episodes, sudden whale activity during falling prices often amplified volatility because liquidity providers widen spreads and leveraged longs unwind, worsening short-term downside.
Short-term impact: higher volatility risk and continued downside pressure while liquidation risk remains elevated.
Long-term impact: potentially neutral-to-mildly stabilizing only if the transfers turn out to be consolidation/OTC rather than selling—but the near-term tape (price weakness + liquidations) currently supports a bearish bias.