Coinbase has transferred more than 1.16 trillion Shiba Inu tokens through three large transactions, drawing attention from on-chain observers. According to blockchain data from Arkham Intelligence, the Shiba Inu transfers did not pass through the spot market order book. Instead, Coinbase moved the tokens from its Prime Custody wallets to three newly created wallets with no prior transaction history, suggesting the transfers were internal rather than customer-driven market transactions.