- David Schwartz’s new profile picture, featuring a phoenix with XRP branding, has ignited speculation about XRP’s future potential.
- XRP’s price surge has been significant, with a 469% yearly increase, outperforming Bitcoin and Ethereum in recent months.
- Community reactions to Schwartz’s profile image suggest a growing optimism within the XRP community following the conclusion of the SEC lawsuit.
A significant on-chain move has drawn attention to Shiba Inu (SHIB) after an anonymous wallet withdrew over $1.29 million in SHIB from Coinbase. The transaction has raised questions about where the liquidity is headed next. The receiving wallet, labeled “0x18C5,” now holds 103.15 billion SHIB, a sum equivalent to $1,291,478 or about 304 ETH.
The transaction occurred in two stages, signaling that this might not be a random move but a strategically planned one. A total of 67.30 billion SHIB, worth roughly $817,000, was transferred three days ago, followed by another 35.84 billion SHIB valued at $445,000 just 16 hours ago. This sequence saw the wallet’s balance jump from just under $900,000 to over $1.29 million within three days.
What Does It Mean for SHIB’s Price?
The price of SHIB has been holding steady at around $0.00001270, reflecting a modest 1.7% increase over the past 24 hours. Importantly, the coin has remained above its “summer base” of $0.00000923. Despite its sideways price action, the substantial movements behind the scenes suggest that large players may be accumulating SHIB in a measured and low-profile manner. This could be indicative of a strategy aimed at avoiding exposure while building positions.
While SHIB’s price has been relatively calm, the major liquidity transfer signals that significant activity is taking place behind the scenes. These large withdrawals may point to investors preparing for future price movements without publicly chasing immediate breakout trends. The trend of holding onto such large sums while avoiding excessive market exposure could be a sign of a larger strategy taking shape for SHIB in the near future.
Accumulating Positions Quietly
The gradual buildup of SHIB in the wallet, particularly with withdrawals spaced out, highlights how major players may be looking to accumulate in a low-key fashion. This careful approach suggests that these large investors are not looking to make a splash with massive market orders. Instead, they appear to be positioning themselves for potential future price increases, all while minimizing any sudden impacts on the market.
The two-stage transfer, totaling 103.15 billion SHIB, suggests strategic positioning ahead of potential future price moves.
