Coinbase Sees Massive SHIB Withdrawal as Whale Signals Long-Term Hold

A mysterious whale has made a significant move in the shiba inu (SHIB) market by withdrawing a staggering 111.5 billion SHIB (worth approximately $2.43 million) from Coinbase. This transaction, tracked via Arkham Intelligence, follows a previous withdrawal of 96 billion SHIB by the same entity, suggesting a strategic shift toward long-term holding. Such off-exchange transfers often indicate bullish sentiment, as whales move assets out of trading platforms to secure them in private wallets. Despite SHIB's recent price stagnation, this activity could signal an impending bullish shift. The repeated large-scale withdrawals highlight growing confidence among major holders, potentially foreshadowing a price rally. As of July 2025, the crypto community is closely watching these developments, interpreting them as a precursor to heightened market activity for SHIB.

Mystery Wallet Withdraws 111 Billion SHIB From Coinbase, Signaling Potential Bullish Shift

A significant whale movement has shaken the Shiba Inu market, with an unknown wallet withdrawing 111.5 billion SHIB ($2.43 million) from Coinbase. This follows a previous withdrawal of 96 billion SHIB, all traced to the same sender and destination via Arkham Intelligence. Such off-exchange transfers often indicate a strategic shift toward long-term holding.

Shiba Inu's price has been range-bound between $0.00001 and $0.0000177 since February, but the recent breakout from a descending channel suggests latent bullish momentum. The MACD indicator remains favorable, though the token now tests a critical support level at the channel’s upper trendline. A successful hold could propel SHIB toward a 55% rally to retest resistance at $0.0000177.

Market participants interpret exchange outflows as a vote of confidence in SHIB’s future—eschewing short-term liquidity for self-custody. The meme coin’s fate hinges on whether this accumulation phase precedes a decisive upward MOVE or another consolidation period.

Oregon AG Seeks to Keep Coinbase Lawsuit in State Court, Rejects Federal Move

Oregon Attorney General Dan Rayfield has filed a motion to remand the state's lawsuit against Coinbase back to Multnomah County Circuit Court, countering the exchange's attempt to shift the case to federal jurisdiction. The legal tussle centers on whether Oregon's securities laws—which diverge from federal standards—should govern the proceedings.

Coinbase had argued for federal court jurisdiction, claiming Oregon's claims inherently involve federal securities law interpretation. But the state's filing highlights a 1976 Oregon Supreme Court decision (Pratt v. Kross) that established a broader, state-specific definition of investment contracts—a direct challenge to Coinbase's legal strategy.

The outcome could set a precedent for how crypto exchanges face state-level securities enforcement. With Oregon's Pratt Test being more expansive than the federal Howey Test, the venue decision may significantly impact the case's trajectory.