Dormant SHIB Whale Reactivates, Shifts Nearly 400B Tokens via BitGo as $382K in Long Liquidations Hit

Shiba Inu (SHIB) derivatives saw a sharp bout of volatility that erased more than $382,000 in futures positions in a single day, with losses concentrated on long traders. Liquidation data shows $365,660 in bullish bets were wiped out versus $17,320 on the short side. The wave of forced liquidations arrived as a previously inactive SHIB wallet resurfaced after roughly 10 months. Arkham Intelligence data indicates the address first ran a small test transaction involving a 10 million SHIB MetaMask swap, then routed almost 400 billion SHIB through BitGo's Forwarder Smart Contract in three transfers of about 112 billion, nearly 190 billion, and roughly 99 billion SHIB. Following the moves, the wallet was effectively emptied, holding only 110 SHIB. Total transferred: 399,989,999,938 SHIB. The address had been dormant since around last August. The intent behind the BitGo-linked transfers remains uncertain. BitGo is commonly used by institutional players for OTC execution or to consolidate holdings into cold storage, activity that does not necessarily translate into immediate sell pressure on public exchanges. Even so, the timing drew attention, given the broader market weakness. SHIB is down about 16% over the past week and has fallen below the psychological $0.000005 level. It last traded around $0.000004535, off roughly 3.5% in the past 24 hours. The pullback has pushed the memecoin toward the lower end of the top 30 by market value; SHIB ranks 29th with an estimated market cap of about $2.65 billion.