Shiba Inu (SHIB) watchers have a new data point to consider after 389,999,999,999 SHIB left an Upbit-linked address, as per Arkham, and flowed into an unusually active wallet across several exchanges. This wallet has been making transfers to and from Binance, Bitget and a variety of smaller exchanges, but the pattern is not as neat as you would typically see if a single platform were shuffling liquidity.
This transfer did not occur in isolation either, being part of a series of transactions in which the same wallet sent multiple 30-40 billion SHIB batches to various destinations just hours apart.
While price action remained unaffected, as the Shiba Inu coin price stayed locked around $0.0000079, the flow itself carried weight. Previous weeks had been dominated by deposits into centralized venues, and most large transfers had leaned in the same direction.
Therefore, the sudden extraction of nearly $3.3 million worth of tokens from a Korean exchange cluster adds a new line to the month’s distribution map.
This is especially true because the address is not a cold vault — it is a wallet that receives funds from Upbit, sends them to Binance, receives funds from various other wallets and then sends them on again, all within a short time frame. This pattern rarely fits purely internal exchange routing.
Key question for Shiba Inu coin
What’s most important right now is what this cluster represents. If it is part of Upbit’s infrastructure, the moves suggest a rebalancing phase, in which SHIB liquidity is being distributed across multiple operational paths prior to the next turnover.
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If not, then someone is moving hundreds of billions of SHIB between major venues with enough confidence to treat nine-figure transfers as routine.
Movements of this size usually occur when liquidity desks prepare for a shift in market conditions, or when a large holder begins to reorganize supply before engaging with the market differently.