Shiba Inu Whale Sells $38M in Tokens, Signaling Potential Multi-Chain Strategy

A significant Shiba Inu whale executed a large transfer of $38 million worth of SHIB tokens from Coinbase Institutional to self-custody. This move, coupled with upcoming multi-chain expansion plans by the Shiba Inu project, suggests strategic positioning for increased security and long-term involvement. 3 trillion SHIB tokens were moved, indicating either substantial private ownership or an institutional entity. The transfer signifies potential engagement in future multi-chain initiatives involving a reduction of liquidity on centralized platforms. This action likely impacts Ethereum’s ecosystem and could trigger price fluctuations as market dynamics shift.