Memecoin continues to dominate the top gainer wave
16 hours ago, 9 fresh wallet addresses withdrew a total of 561B $SHIB ($18M) from #Coinbase
But a few minutes before that, there was also a Whale wallet address that had moved to the exchange 1.34T $SHIB ($43M)
This amount of $SHIB was collected by Whale 2 years ago
Most likely this is the act of switching storage wallets through#Coinbaseto erase traces
This shows that although SHIB token prices have increased sharply recently, Whales have not yet made significant profit-taking moves. Their transfer of SHIB tokens between wallets and exchanges may be intended to hide the origin and traces of transactions.
This event can be interpreted in two ways:
Case 1: Whales expect SHIB price to increase further so they are not in a hurry to take profits. They are holding on and waiting for the right moment.
TH2:Whales is preparing for a strong sale in the near future. The transfer of tokens back and forth may be to prepare liquidity and hide intentions.
But with Whale's long-term accumulation, the TH1 trend is still higher
If Whales wanted to take profits, they could have done so sooner given the recent surge in SHIB prices. However, the fact that they haven't sold yet could indicate expectations for prices to rise even further.
Follow Whale fresh
Whale deposit 1.34T $SHIB
