A newly activated crypto wallet has withdrawn an eye-popping 5 trillion Shiba Inu (SHIB ($0.00)) tokens from Coinbase Institutional, raising eyebrows across the crypto space. The move, flagged by Whale Alert, occurred on July 23, 2025, at 7:24 p.m. UTC, with the transaction valued at approximately $69.98 million.

This transaction came from Coinbase’s institutional platform, which caters exclusively to vetted, large-scale clients. The recipient, a previously inactive wallet identified as “0x42a…Aefe4,” had no prior on-chain activity. As of this writing, the wallet still holds all 5 trillion SHIB, suggesting a clear intent to hold the tokens off-exchange.

What Does This Mean for SHIB?

Typically, moving large sums from an exchange to a private wallet signals long-term holding intentions and reduces immediate sell pressure. That’s why many investors view such movements as bullish. However, if the whale were to send these tokens back to an exchange, market sentiment could flip to bearish in an instant.

Although the identity behind this wallet remains unknown, the scale of the transfer aligns with prior whale activity involving SHIB and Coinbase Institutional.

This isn’t the first time a SHIB whale made headlines. In June 2025, an anonymous investor moved 6 trillion SHIB in two transactions over two days. Likewise, just last month, a different whale transferred 2.85 trillion SHIB into a Coinbase account. These repeated high-volume transfers hint at coordinated strategies or institutional accumulation.

Related article: Shiba Inu Team Hints at Massive Price Surge: $0.000135 Possible?

SHIB Price Tumbles 11%, Falls in Rankings

Ironically, this massive withdrawal happened during a market downturn. Shiba Inu dropped 11.02% over the last 24 hours, falling to $0.00001343 and sliding into the 20th position on CoinMarketCap’s global crypto ranking.

This dip mirrors a broader market correction. XRP ($2.42) and Dogecoin also fell sharply, recording losses of 11.93% and 11.47%, respectively. The crash wiped out $781.32 million in crypto positions, with $672.19 million coming from long trades alone.

Yesterday, it was reported that $507 million had already been liquidated from the market within a single day, a number that has since ballooned.

Final Thoughts

While the SHIB withdrawal from Coinbase Institutional could imply bullish confidence, the ongoing market volatility complicates any definitive take. Investors will be watching closely to see what this new whale does next, will they hold or offload?

If the tokens remain untouched in the new wallet, it might signal conviction in SHIB’s long-term value. But if they head back to exchanges, brace for potential turbulence.

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