A large transfer of Shiba Inu (SHIB) tokens took place, with a wallet transferring its tokens to Coinbase and then withdrawing them in separate tranches before sending them back to the exchange. This could be seen as a large entity intending to sell their holdings, as whales typically choose the most liquid platform to minimize price impact. However, there is also the possibility that this was an internal operation of Coinbase itself, although there are flaws in this theory. The rapid change in sentiment in the cryptocurrency market may have contributed to this activity.



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