Dormant Shiba Inu Whale Moves 407,999,431,439 SHIB After Three Years of Silence

thecryptobasic.com 08 September 2026 13:37, UTC

Altcoins

A Shiba Inu whale has ended more than three years of inactivity by transferring 407.99 billion $SHIB to BitGo, potentially signaling an intention to sell.

The transaction occurred this week as Shiba Inu faced renewed volatility and struggled to hold above the psychologically important $0.0000055 level.

Whale Moves 407.99 Billion $SHIB to BitGo

According to Arkham data, the whale recorded no outflow activity after receiving $SHIB on July 16, 2023. At the time, another whale wallet sent 600 billion $SHIB to the address.

That sending wallet had previously accumulated 10 trillion $SHIB before distributing most of its holdings to multiple addresses in batches of 600 billion tokens.

After receiving its allocation, the dormant wallet remained inactive for more than three years. However, that streak ended on September 6, 2026, when the whale initiated its first-ever outflow.

First, the wallet transferred 836,221 $SHIB to purchase ETH for gas fees. It then moved 407,999,431,439 (407.99 billion) $SHIB tokens to a Forwarder address. The Forwarder subsequently routed the tokens to BitGo. At the time of the transaction, the transfer was worth $2.21 million.

Following the move, the whale still held roughly 192 billion $SHIB, currently valued at about $1.05 million.

Similar Transaction

Interestingly, the latest transaction mirrors a similar movement recorded last week.

As previously reported by TheCryptoBasic, another major Shiba Inu whale transferred 600 billion $SHIB to BitGo through the same routing mechanism. That whale first sent the tokens to a Forwarder address before the funds ultimately reached BitGo.

Exchange deposits often attract attention because investors can move tokens to trading platforms when preparing to sell. However, the transfer itself does not confirm that the whale has liquidated its holdings.

Therefore, it remains unclear whether the latest 407.99 billion $SHIB movement signals an imminent sale, an internal fund transfer, or another purpose.

$SHIB Exchange Outflows Continue to Outpace Inflows

The whale’s transaction also contrasts with broader $SHIB exchange-flow data.

According to CryptoQuant, more $SHIB left exchanges than entered them over the past 24 hours. Notably, 260.17 billion $SHIB flowed out of exchanges, compared with roughly 182.58 billion $SHIB in inflows. As a result, $SHIB recorded a negative netflow of 77.59 billion tokens.

This broader trend suggests that, despite the whale’s large transfer to BitGo, the overall market has seen more $SHIB withdrawn from exchanges than deposited.