Shiba Inu Fights Back to Top 31: Is It Safe to Buy SHIB Now?

Shiba Inu (CRYPTO: SHIB) climbed back to 31st in the crypto market rankings after Coinbase (NASDAQ:COIN) moved 1.16 trillion SHIB tokens between internal wallets.

What Was The 1.16 Trillion SHIB Move About?

Blockchain data from Arkham Intelligence showed Coinbase moved the tokens across three newly created wallets with no prior transaction history, without touching the spot market order book at all.

Crypto analyst LuckSide Crypto said in a YouTube video the transfer is routine internal custody management, not a selling signal.

The three transfers broke down as 573 billion SHIB from an unmarked wallet, 242 billion SHIB, and 348 billion SHIB.