A few Coinbase titans recently doubled down on their Shiba Inu (SHIB) holdings, latest Arkham Intelligence data reveals. In one such case, a Coinbase whale doubled up their SHIB stash to 193.368 billion, worth $2.52 million after Thursday’s 3% uptick.
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The slight price boost coincided with this crypto whale executing a series of transfers of 14.42 billion each. Notably, the transaction came from Coinbase Prime, hinting that the crypto whale could be an institutional player.
Shiba Inu Finally Breaks Pitfall Triangle
As Shiba Inu (SHIB) confronts a key resistance area where the majority of circulation lies, whale support could as well win the matchpoint in this week’s bull versus bear duel. According to the Bull Bear Power (BBP) meter, sellers are slightly in charge, only giving SHIB bulls a break a few between July 25 to 28, 2025.
Meanwhile, the general Shiba Inu (SHIB) whale sentiment remained a bit on the selling side, portrayed in the Chaikin Money Flow (CMF) index dwelling slightly below zero. So, for Shiba Inu’s (SHIB) price to achieve the desired 100% upswing to back to January 2025 levels, whale buying power is needed.
Presently, the mainstream canine coin Shiba Inu (SHIB) is escaping the broken descending triangle pattern, a key support level for the next bounce.
Displayed in Butterfly’s technical analysis, this pitfall triangle takes us to $0.000032, a price range just steps below Shiba Inu’s yearly heights.
With a $222 million daily trading volume, Shiba Inu’s trading demand has considerably picked up since last month, when only around $125 million SHIB was traded across exchanges daily with vague interest on Derivatives as well.
Why Are Coinbase’s Heavyweights Backing SHIB?
Recently, Shiba Inu’s developer team dropped a bombshell update in regards to SHIB burns. Expanding Shiba Inu coin’s support to Coinbase’s own Base chain, the dev-assisted burn vaporized a gargantuan 600M SHIB in one go, vaporizing over $8K of the meme coin’s supply forever.
As Base chain’s popularity grows, Shiba Inu (SHIB) burns are expected to pick up pace: “The more it grows on Base, the bigger the blaze.”, – remarked the dev team. Naturally, the SHIB burn rate grows with demand. As of now, SHIB Burn official metrics state there’s 584.6T SHIB coins left in circulation, while another 4.64T are staked across DeFi platforms.
Ultimately, rising Shiba Inu staking rates solidify the dog-embossed crypto’s status as a long-term darling for large-scale crypto whales, but the SHIB community argues that burns below 1 billion a day will hardly bark up any fruitful results on Shiba Inu’s price.
On The Flipside
- Constantly reducing overall exchange reserves have sunk to critically low levels for Shiba Inu in June, but registered a 900 billion increase to 84.36T this month, according to CryptoQuant data.
Why This Matters
Withdrawing crypto to self-custodial wallets usually implies accumulation of the digital asset.
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People Also Ask:
Coinbase whales are large investors purchasing significant amounts of Shiba Inu (SHIB) tokens. DailyCoin reports this could signal their belief in SHIB’s potential growth.
SHIB is a popular meme coin, and whale activity on Coinbase suggests confidence in its value. This often draws interest from other investors.
A 100% price increase is possible if demand rises, but it’s not certain. Crypto markets are volatile, so caution is key.
Create a Coinbase account, deposit funds, and search for the coin to purchase. Start small and only invest what you can afford to lose.
The meme coin carries risks due to its price swings, like most cryptocurrencies. Check out DailyCoin for constant updates.
