Two dormant Ethereum addresses tied to what may be the same Shiba Inu (SHIB) whale just lit up after about two years of near-zero activity, and the combined move adds up to 933,290,251,691 SHIB, on-chain data on Arkham shows.
The wallets, “0x58797” and “0x00a63,” were originally funded from the same source and then sat there HODLing the asset until a burst of fresh transactions in a single day pushed funds out toward major offshore crypto exchange OKX.
This history matters because both wallets received their big SHIB chunks around two years ago from the same sending address, one getting about 468.989 billion SHIB and the other about 464.31 billion SHIB, which is basically the entire 933.29 billion pile.
Before the OKX moves, both addresses even topped up small amounts of ETH from a MetaMask “gas station,” a classic sign of an owner waking a cold wallet up to pay fees and execute exits.
Is sell-off only outcome for SHIB?
The outgoing path is the headline: transfers to OKX deposit plus Arkham’s swap log showing multi-million-dollar value transits, the kind of behavior that usually lines up with selling, derivatives collateral or an exchange-side reshuffle that ends with coins basically becoming tradable supply.
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On the price side of things, SHIB is trading around $0.00000742 with the next obvious floor near 0.00000678, so a fresh exchange deposit at these levels can accelerate the downside if buyers keep waiting, and a bounce will look suspect until that OKX flow stops.