"Mystery Wallet Dumps $2.4M SHIB on Coinbase; Bullish Whale Accumulation?"

Over the past week, the cryptocurrency market has been relatively calm, with Shiba Inu (SHIB) stuck in a tight price range despite recent market volatility. Following the largest liquidation event in digital asset history, SHIB has remained largely unmoved. However, a recent development has caught the attention of market watchers, as an unknown wallet has withdrawn nearly 151.61 billion SHIB from Coinbase over the past five days, valued at around $2.41 million at today's prices.

The wallet, linked to the address "0xB7e09," has no prior history with SHIB tokens, raising questions about the identity of the investor behind these large withdrawals. Every transaction has been initiated from Coinbase's address, suggesting the funds might be tied to the exchange itself. However, if the activity is not related to internal operations, the market could be witnessing the early stages of a massive SHIB accumulation by a major investor.

The scale of these withdrawals has been so significant that this wallet has now become one of the largest sources of SHIB outflows from exchanges in the past 24 hours. While it's still unclear where this activity will lead, the intentions of this mysterious whale appear to be bullish.

As for SHIB's future, the memecoin is showing early signs of a potential reversal after weeks of decline. At press time, SHIB was trading at $0.00001624, up 2.72% in the last 24 hours. The Relative Strength Index (RSI) sat at 39.96, indicating that the asset is still in bearish territory but moving away from oversold conditions. If RSI trends above 40, it could signal growing buying pressure.

However, the On-Balance Volume (OBV) remains subdued despite recent price movements, suggesting a lack of strong accumulation. SHIB's key resistance lies near $0.00001750, a level that needs to be breached for any sustained recovery. A failure to break above this level could lead to further consolidation or a retest of the $0.000015 support zone.

While recent whale accumulation hints at bullish sentiment, SHIB's technicals suggest a cautious outlook. A decisive close above resistance with rising volume could fuel a short-term