Dormant SHIB Whale Shifts Nearly 400B Tokens as Liquidations Hit Bulls

Shiba Inu futures traders saw a sharp shakeout, led by long positions. More than $382,000 in SHIB futures were liquidated in a single day, with $365,660 coming from bullish bets and $17,320 from shorts. The liquidations coincided with the sudden reactivation of a SHIB wallet that had been inactive for nearly 10 months, drawing attention as the token remained under pressure. Arkham Intelligence data shows the address first sent a small test transfer of 10 million SHIB via a MetaMask swap. It then moved almost 400 billion SHIB through BitGo's Forwarder Smart Contract in three transactions: about 112 billion, nearly 190 billion, and a final 99 billion. After the transfers, the wallet balance fell to just 110 SHIB. Total outflow: 399,989,999,938 SHIB. The address had been idle since roughly last August and was effectively emptied within hours. The intent of the BitGo-linked transfers is unclear. BitGo infrastructure is frequently used by institutional clients for OTC settlement or moving assets into cold storage—flows that don't necessarily appear as exchange selling. The size of the move stands out, but it does not confirm tokens were sold on the open market. SHIB has slid 16% over the past week, breaking below the $0.000005 psychological level. It was last trading at $0.000004535, down 3.50% over the prior 24 hours. The decline has pushed the memecoin closer to the edge of the top 30 by market cap, with SHIB ranked 29th at about $2.65 billion. The whale's return, alongside a broader crypto downturn and another round of liquidations, kept the transfers in focus even as their purpose remains unknown. Featured image from Unsplash, chart from TradingView