Blockchain data has revealed significant accumulation of the memecoin Shiba Inu (SHIB) by a single large investor, commonly known as a "whale." According to on-chain intelligence platform Arkham, a newly created cryptocurrency wallet received six separate transfers from a known Coinbase exchange wallet over a 24-hour period, amassing a total of 169.13 billion SHIB. At current prices, this stash is valued at approximately $1.49 million.
The transfers, ranging from 11 billion to 81 billion SHIB per transaction, indicate a deliberate accumulation strategy. Notably, the receiving wallet has not dispersed any funds, which is an unusually transparent move for an entity of this size, as large investors often use complex methods to obscure their activity.
This accumulation occurs against a challenging backdrop for memecoins. Data from CoinMarketCap shows the broader memecoin sector recently fell to a 2025 low with a total market capitalization of $39.4 billion, though it has since recovered about $4 billion. Trading volume across the sector has also plummeted, dropping over 54% month-over-month, signaling waning retail interest.
For SHIB specifically, the price has trended downward for three months despite data from analytics firm CryptoQuant showing a pattern of net outflows from exchanges—a metric often associated with accumulation. The Shiba Inu development team is aiming to boost the token's utility with a planned privacy upgrade using fully homomorphic encryption on its Shibarium layer-2 network in 2026.