Exchanges liquidated over $382K in SHIB longs as whale moved 400B tokens

Whale empties wallet, moves 400B SHIB via BitGo; price slips below $0.000005

A dormant SHIB whale reactivated and pushed nearly 400 billion tokens through BitGo’s smart contract. The move hit as SHIB broke the $0.000005 level amid a weak market.

Arkham shows the wallet testing with 10 million SHIB via a MetaMask swap, then sending 399,989,999,938 SHIB to BitGo’s Forwarder across three transactions. The wallet now holds 110 SHIB. Arkham address details.

Breakdown of the transfers:
- ~112 billion SHIB
- ~190 billion SHIB
- ~99 billion SHIB

The address had been inactive for about 10 months, since roughly last August. Arkham history.

BitGo infrastructure is widely used by institutions for OTC settlement and cold storage. Such movements do not print as exchange sells. BitGo overview.

SHIB fell 16% over the week, losing the $0.000005 psychological level. Last trade was $0.000004535, down 3.50% in 24 hours, with a $2.65B market cap at rank 29. CoinGecko market data.

Chart context for the support break is visible here. TradingView SHIB chart.