Blockchain monitoring platform Arkham has detected a significant Shiba Inu transfer involving 46,024,240,350 SHIB tokens. The transaction, valued at approximately $301,900, occurred between two Kraken-controlled addresses on the Ethereum network.
The movement represents an internal reallocation rather than an external market transaction. Kraken transferred the tokens from its cold storage wallet (0xd20) to an active hot wallet (0x2CC). Such operations typically indicate preparation for increased trading activity or anticipated customer withdrawals.
Transaction data confirms the transfer cost is just $0.14 in fees, processing at 2.03 Gwei despite the substantial token volume. The low fee demonstrates Ethereum’s efficiency when handling large-value transfers during periods of reduced network congestion.
Exchange Liquidity Management Signals Market Preparation
Cryptocurrency exchanges maintain distinct wallet structures for security and operational purposes. Cold wallets store the majority of assets offline, protecting them from potential cyber threats. Hot wallets remain connected to the internet, enabling immediate transaction processing.
Kraken’s decision to relocate 46 billion SHIB tokens suggests anticipation of heightened trading demand. Exchanges typically execute such transfers when market conditions indicate potential volatility or when order book depth requires reinforcement.
The timing aligns with broader cryptocurrency market movements. Bitcoin has advanced toward the $70,000 threshold, creating positive sentiment across the digital asset sector. This momentum often extends to alternative cryptocurrencies, including meme tokens like Shiba Inu. While 46 billion tokens represent a small fraction of SHIB’s 580 trillion circulating supply, their placement in an active trading wallet enhances market depth.
SHIB Price Action Shows Recovery Momentum
Shiba Inu has demonstrated modest gains during the current trading session. The token reached $0.000006581 at the time of writing, registering a 1.3% daily increase. This recovery follows a recent decline that pushed prices toward the $0.0000052 support zone.
Technical analysts are monitoring whether SHIB can reclaim the $0.0000068 level. Breaking through this threshold would confirm the current upward trajectory and potentially trigger additional buying interest. The token faces immediate resistance at this price point before attempting higher targets.
Source: https://coinpaper.com/14663/kraken-transfers-46-billion-shiba-inu-tokens-worth-301-900-as-shib-price-rises-1-3
