A flurry of large Shiba Inu (SHIB) transfers involving over 1.26 trillion SHIB across multiple transactions have sparked speculation around Coinbase’s role. While these movements remain internal to the exchange, they have raised concerns about market distortion and potential misinterpretations. 1.26 trillion SHIB were moved in a series of smaller blocks on Coinbase, with amounts ranging from $12.7 million at current market prices, according to data from Arkham. The unusual nature of the transaction breakdown, with several large transfers without prior history in the destination wallets, has led some to suspect a whale might be involved. However, the reality appears more likely connected to internal reshuffling at Coinbase, as the tokens remained within their control throughout. Blockchain monitoring tools show these transactions appearing like SHIB exiting Coinbase despite them returning to the platform. While these moves have caused a temporary distortion in liquidity visibility on Coinbase, they haven’t significantly impacted Shiba Inu’s market dynamics. The price of SHIB remained stable despite this activity. This incident highlights the complexity of cryptocurrency exchanges and potential for misinterpretations within the fast-moving crypto world.