A Coinbase-linked address has just received back 187,821,350,592 SHIB — the exact amount it had gradually sent to an external wallet over the past month — marking a full reversal of inflows totaling $2.17 million at current prices.

The external address, "0xf3f," started collecting SHIB from Coinbase in early May through a series of regular transactions. The transfers were regular and organized, which makes you think they were either building up or moving money around in-house. But today, the whole balance was returned to Coinbase in one go.

There was no intermediate transfer activity, no splits and no obvious redistribution. It is just a full round-trip to the original exchange, and now the wallet is holding only $0.012 in leftover tokens.

This comes as the SHIB price quotes near $0.00001177 — a level that has been a kind of support since March. The timing of this is interesting because it coincides with a narrowing of the range and an increase in on-chain activity around this zone.

There is nothing to suggest that SHIB tokens are being moved to other exchanges or put into custodial cold wallets. The transaction looks more like a contained, closed-loop movement, which might be linked to internal liquidity tests, temporary collateral deployment or pre-execution of larger transfer strategies.

There has not been any more activity from the sending address after the reversal. Once the transfer is done, the wallet is pretty much as good as new — there are not any new inbound or outbound transactions to worry about.

It is not clear if the move was planned by one whale or an internal Coinbase team, but the size and simplicity of the transaction makes it different from normal retail or automated flows.