A cryptocurrency wallet associated with Coinbase Prime has significantly increased its Shiba Inu (SHIB) holdings, accumulating an additional 186.68 billion tokens during recent market downturns. The strategic accumulation raises questions about growing institutional participation in the meme cryptocurrency sector.
The anonymous wallet executed six precisely timed transfers of 14.427 billion SHIB each, supplemented by a single deposit of 9.6 billion tokens. This activity occurred concurrently with SHIB’s price decline from above $0.000013 to approximately $0.00001255, indicating a deliberate accumulation strategy during the dip.
With the new acquisitions, the wallet’s total SHIB balance now stands at approximately $2.4 million. Market analysts suggest such large-scale accumulation through institutional platforms like Coinbase Prime could influence SHIB’s market dynamics, potentially stabilizing prices or signaling positive momentum amid renewed institutional interest in tokenized assets.