Shiba Inu Transfer That Spooked Market Was Wintermute Custody Shift, Not Whale Dump: Report

• A recent whale alert triggered a 2.34% decline in SHIB’s price.
• SHIB’s recent selloff was out of unverified rumors.
• Wintermute was behind the SHIB transaction, and it was not for a selloff

A cryptocurrency platform has researched the recent Shiba Inu (SHIB) transaction spotted by Whale Alert that triggered panic among the memecoin’s holders, leading to a 2.34% decline in SHIB’s price within 24 hours. 

The crypto platform discovered that the transaction actually involved a change of custody, not a sell-off suspected by many SHIB users, which triggered a panic sell.

Unknown Wallet Moves 2,869,483,918,550 #ShibaInu Worth $36M to Coinbase: Here’s What Really Happened. pic.twitter.com/OLs7OsvXEA

— TheCryptoBasic (@thecryptobasic) June 5, 2025

Wintermute Identified as Mover of 2.89T SHIB, $43.5M ETH to Coinbase Prime

After researching the transaction, the crypto firm identified Wintermute, a leading algorithmic trading firm, as the originator of these large transfers. Wintermute moved funds, including SHIB and ETH, from BitGo, a digital assets custody and liquidity firm, to Coinbase Prime, the institutional investor arm of the leading US exchang…

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