South Korean Whale Moves 361 Billion SHIB from Coinone
Shiba Inu (SHIB)
Editor:
Eugene Serbin
Bitcoinethereumnews.com reports that Arkham Intelligence detected a major withdrawal of Shiba Inu (SHIB) tokens from the hot wallet of South Korean exchange Coinone earlier this morning. A total of 355.27 billion tokens, valued at $1.87 million, was transferred to address 0x687c…459e. Two additional smaller transactions involving 4.29 billion and 1.5 billion tokens brought the wallet's total accumulation to 361 billion SHIB. This major wallet, holding $23.53 million in assets, has steadily grown its balance through Ethereum and ONDO holdings while keeping outgoing transactions negligible.
Several hours after receiving the funds, the wallet sent test transactions to other South Korean platforms, though the amounts were tiny by the token’s standards. These maneuvers coincided with a technical test on the SHIB/USD chart where the token was down 4.01% to $0.0000050459. The price is currently caught between long-term resistance at the SMA 200 and support at the SMA 100. For now, this maneuver means only one thing: the major South Korean player has no intention of selling the assets.
How the market reacted
Whalio's own Binance spot order flow for SHIB, measured when this story was written up on 11 September 2026. Not the outlet's figures.
Whalio's spot data for SHIB shows a price of $0.000005040 with a 1-hour buy ratio of 31.6% and a 4-hour buy ratio of 40.3%. These short-term ratios are lower than the 24-hour buy ratio of 48.7%, indicating that buying pressure is fading in the immediate term. The 1-hour volume delta is -$41,385 and the 4-hour delta is -$81,463, showing net selling activity over these periods. The 24-hour volume delta stands at -$99,596, confirming that sellers have dominated the flow over the last day. This negative delta means that sell volume has exceeded buy volume, pushing the price down despite the whale's accumulation.
The latest daily buy ratio of 45.6% sits at the 11th percentile of the last 322 days, against a median of 48.8% - weaker buying than most days.
Was that an ordinary day?
The same Binance spot measurements for SHIB, averaged over the days leading up to the story.
Over the preceding week, the 7-day average buy ratio was 47.9%, compared to the latest day's 48.7%, a difference of just 0.8 points. The spot volume for the latest day was 0.97x the weekly average, indicating trading activity was slightly below normal levels. This is an ordinary day for the coin, as the buy ratio remains near its weekly average and volume is close to typical levels. However, the 8-day price change of -6.8% and a total volume delta of -$1,250,859 show a broader downtrend. Only 1 of the last 7 days saw net buying, suggesting sustained selling pressure over the longer term.