Cryptocurrencies never sleep, with interesting events unfolding today with the Shiba Inu token as the market heads into the weekend. According to Arkham, the wallet 0x9d9f823 was withdrawn from CoinOne, a major Korean cryptocurrency exchange and one of the oldest in the country (65.244 billion). $SHIBequivalent to just over $394,000.
True believer or exchange agent? 1.6 trillion deciphered $SHIB balance
Other than the fact that this Shiba Inu transaction resulted in one of the biggest foreign exchange outflows of the day, the wallet itself is not that interesting since this was the first transfer. $SHIB Over 2 months. What’s even more unusual is that this wallet has so far only been withdrawn from Shiba Inu, and always from the same exchange, CoinOne.
All transactions for the past two years have been withdrawals from CoinOne. And only Shiba Inu.
As a result, wallets now hold $1,616 billion. $SHIBequivalent to $9.45 million. In addition, the wallet contains one Ether and what is commonly referred to as “Dust”.
You can think of the wallet as affiliated in some way with the exchange itself. That would be the simplest explanation. This is because it is hard to imagine that millions of dollars of Shiba Inu worship, with no activity other than withdrawals from exchanges to wallets, represents anything else.
However, neither Arkham nor any other on-chain data explorer has tagged this wallet as belonging to CoinOne, so it’s still possible that the address does not belong to an exchange, but to a real address. $SHIB Despite all the price fluctuations, believers believe as the token continues to hit new lows in search of a rock bottom.
In conclusion, it’s certainly worth monitoring Whale’s future actions, but judging by its transaction history, it’s unlikely to do anything other than withdraw Shiba Inu tokens from CoinOne in the coming months.
