Coinbase Institutional Moves $70 Million Shiba Inu: Unveils Crypto Market Movement

Key Points

1. Coinbase Institutional moved around $70 million worth of SHIB to an anonymous wallet on July 23, 2025.

2. This transaction was the largest SHIB transfer of the year, following earlier transfers of $31.6 to $44 million on the same platform.

3. On the day of the transfer, SHIB's price dropped by over 10%, followed by an additional 4% decline the next day amid broader altcoin market sell-offs.

4. Despite briefly entering the top 10 cryptocurrencies by market cap in 2021, SHIB has since fallen out of CoinMarketCap’s top 25.

5. The article mentions other significant SHIB-related events, such as token burns and community discussions, but focuses primarily on the large institutional transfer and its market impact.