Singapore’s Crypto Exchange Makes Waves With a Whopping 441 Billion SHIB Transfer

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Ah, Singapore. The city-state that’s always up to something interesting, especially when it involves something as predictable as cryptocurrency. Today, Coinhako, a Singapore-based crypto exchange, has found itself in the limelight, all thanks to a massive, headline-grabbing shuffle of Shiba Inu (SHIB) tokens. In the past 24 hours, the platform has redistributed a staggering 441 billion SHIB. Arkham, naturally, was quick to spot this rather amusing spectacle.

Let’s break it down: 253.69 billion SHIB, worth approximately $1.58 million, were withdrawn from Coinhako’s hot wallet. Meanwhile, the cold wallet was left with 187.66 billion SHIB, still holding an impressive $1.17 million. And here we thought Singapore was just famous for its cleanliness and iconic skyline.

Why Singapore Is Suddenly the Shiba Inu Capital of the World (Sort Of)

Apparently, all this activity is a response to a surge in demand for the Shiba Inu token. Because why wouldn’t you want to get in on the action of the world’s most meme-worthy cryptocurrency? At the time of writing, SHIB has managed to rise 2.86%, with its price briefly climbing by more than 8% earlier in the day. Talk about a rollercoaster ride for those with a taste for the absurd.

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Now, let’s not forget that Coinhako isn’t just any run-of-the-mill platform. It’s one of the few licensed exchanges in Singapore that supports direct trading of SHIB against both Singapore dollars (SGD) and U.S. dollars. That’s right, you can trade your dog-themed tokens in both local and global currencies-because why not make it even more exciting?

The big players are getting in on the action too. Coinhako is actively courting institutional investors, who now account for around 60% of the exchange’s trading volume. One can only imagine what type of spreadsheets these institutional folks are working with to justify such an odd, yet amusing, investment.

What does all this mean? Well, large SHIB transfers are probably signaling that major players in the Asian region are using Singapore’s Coinhako as a base for some strategic accumulation and wallet rebalancing. Sounds like the kind of thing that gets talked about over expensive cocktails at a crypto conference.

With the SHIB token sitting at a modest $0.00000613, the day’s price spike was likely driven by the insane activity happening on one of Asia’s leading exchanges. It seems that the demand for Shiba Inu is far from dying down-at least in Singapore, anyway.

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2026-03-16 18:43