Shiba Inu Tokens Flood Out of Coinbase Wallets Without Impacting Price

More than 1.16 trillion Shiba Inu tokens were transferred out of Coinbase-linked wallets in rapid large moves, sparking market buzz but no significant price surge.

The massive transfer likely resulted from internal rebalancing rather than market selling or buying.

Despite the movement, SHIB's price remained near multi-year lows with only a slight bounce, and technical analysis indicates it remains in a bearish trend below key resistance levels.

About 74 billion SHIB tokens have been withdrawn from centralized exchanges recently, which could indicate holders moving to self-custody rather than selling.