A noticeable Shiba Inu (SHIB) transfer has appeared on-chain, as visualized by Arkham, showing 46,024,240,350 SHIB being moved internally across Kraken-controlled wallets. Valued at around $301,900 at the time of execution, the transaction suggests a liquidity shift as the exchange adjusts its holdings between cold storage and its active hot wallet.
Kraken adjusts between hot and cold: SHIB price structure detailed
Blockchain data by Arkham confirms that the transfer was executed on the Ethereum network. Despite the high volume, the network’s efficiency allowed for a transaction fee of just 2.03 Gwei, equivalent to $0.14.
The sender address is verified as a Kraken Cold Wallet (0xd20), and the recipient address is a Kraken Hot Wallet (0x2CC). Together, these addresses suggest a routine operational move rather than a large-scale customer withdrawal or external market sell-off. Exchanges typically store most assets in offline cold storage for security and only relocate them to hot wallets when there is increased trading demand, market-making needs or upcoming withdrawals.
The timing of this liquidity shift coincides with a modest recovery in SHIB’s price amid Bitcoin marching toward $70,000. On Binance’s daily chart, Shiba Inu is currently approaching $0.00000669, marking a 2.29% increase for the day. SHIB enthusiasts are watching closely to see if the meme coin can reclaim the $0.0000068 level after a recent drawdown pushed prices toward the $0.0000052 zone.
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Although 46 billion SHIB is a small fraction of the 580 trillion circulating supply, exchange-level liquidity adjustments are often a leading indicator of short-term volatility. By positioning these tokens in a hot wallet, Kraken ensures deeper order book depth.
If this liquidity translates into higher spot volume, SHIB may gain the momentum needed to reach higher resistance levels at $0.00000900 and $0.00001102. For now, this move appears to be a vote of confidence in SHIB’s current trading stability. It signals that the exchange is actively managing liquidity during a long holiday weekend in the U.S. and compressed price action.