A new Shiba Inu whale withdrew 512.6 billion SHIB (≈ $7.14M) from Kraken into a fresh wallet, per on‑chain Arkham data; the address now holds almost all its $7.1M balance in SHIB and 5 ETH (~$23k), signaling large-scale accumulation during a short-term price dip.
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512.6 billion SHIB moved from Kraken to a new wallet in one transaction
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Wallet labeled “0x2CC” holds nearly $7.1M in SHIB and 5 ETH after the inflow
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Move recorded during a ~5% intraday SHIB price drop; data source: Arkham (on‑chain analytics)
Shiba Inu whale withdraws 512.6B SHIB from Kraken — read updated on‑chain analysis and what it means for SHIB traders. Learn more on COINOTAG.
What happened when a Shiba Inu whale withdrew 512.6 billion SHIB from Kraken?
The Shiba Inu whale withdrawal is an on‑chain transfer of 512.6 billion SHIB (about $7.14M) from Kraken hot wallets into a newly created address labeled “0x2CC.” The move concentrated a large block of SHIB off‑exchange during a ~5% intraday price decline, altering short‑term liquidity dynamics for the token.
How did Arkham data record the Kraken outflow and what does it show?
Arkham on‑chain analytics identified the single large transfer from Kraken’s hot wallets to one fresh address. The receiving wallet now shows almost its entire ~$7.1M balance in SHIB plus 5 ETH (~$23k). On‑chain tags and flow comparisons indicate this inflow outpaced most daily exchange withdrawals for SHIB.
Why is this withdrawal potentially bullish for SHIB?
Removing half a trillion SHIB from Kraken compresses immediate sell liquidity on that exchange. Because the transfer occurred during a price drop, it looks less like a liquidity‑driven sell and more like deliberate accumulation, which can be interpreted as a bullish signal if the holder intends long‑term holding.
The withdrawal size is larger than many daily exchange volumes for SHIB, instantly ranking the receiving wallet among top holders and making the token more sensitive to large sell orders on exchanges.
Source: Arkham
How should traders and analysts respond?
Traders should treat the event as a liquidity and sentiment data point, not a standalone price predictor. Combine this on‑chain evidence with order book depth, open interest in derivatives, and broader market conditions before adjusting positions.
Frequently Asked Questions
How large was the SHIB transfer in USD terms?
The recorded transfer totaled roughly $7.14 million in SHIB at the time of the move, plus a separate 5 ETH balance (~$23,000), as shown by Arkham on‑chain data.
Is the receiving wallet moving funds again?
As of the latest on‑chain update, the wallet labeled “0x2CC” has not moved the newly accumulated SHIB, indicating a one‑sided holding pattern that may reflect longer‑term intent.
Key Takeaways
- Significant withdrawal: 512.6B SHIB (~$7.14M) moved off Kraken into a single new wallet.
- Liquidity impact: The transfer reduces exchange‑side supply and can increase short‑term price sensitivity.
- Interpretation: Move appears as accumulation during a price dip; combine with order book and derivatives data for trading decisions.
Conclusion
The Kraken to “0x2CC” transfer is a clear on‑chain accumulation event that changes short‑term SHIB liquidity dynamics. Cited on‑chain analytics (Arkham) and price context suggest the move is meaningful for market participants. Monitor labeled wallet activity and exchange order books for follow‑up signals; more data will clarify whether this represents strategic accumulation or temporary repositioning.
