SHIB Whales Make Waves: $75 Million Transfer to Robinhood

SHIB Whales Make Waves: $75 Million Transfer to Robinhood

In a recent development, someone mysteriously transferred a significant amount of Shiba Inu (SHIB) meme coins totaling 3 trillion to the investment app Robinhood. This transaction coincided with a 12.2% surge in the price of SHIB over the past 24 hours.

Six hours ago, an anonymous wallet transferred a substantial sum of $75 million worth of SHIB to Robinhood. This significant movement in the SHIB market noted as the second most popular meme cryptocurrency experienced a notable price increase.

Increased Whale Activity

This week, there has been a surge in activity among SHIB whales. On May 15, a large cryptocurrency trading firm, Cumberland, transferred 144 billion SHIB to Coinbase, amounting to approximately $3.3 million. Earlier, 50.36 billion SHIB were deposited to OKX.

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Before the notable 3 trillion SHIB transfer, more than 1.5 trillion SHIB was transacted within 24 hours by meme coin whales. These transactions primarily involved leading cryptocurrency trading platforms like Binance, Coinbase, and Additionally, an anonymous wallet deposited 200 million Dogecoin (DOGE) to Robinhood.

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Over the last 24 hours, SHIB experienced a bullish breakout, surging by 12.26%. A significant portion of this increase, 3.5%, occurred within the past two hours. As of the latest update, SHIB is valued at $0.00002574 per coin.

Increase In SHIB Burns

The SHIB community has seen a notable increase in SHIB burns, with almost 10 million SHIB disposed of within the last 24 hours. This led to a remarkable 306.7% growth in the SHIB burn metric. The community achieved this through more than twenty transactions to unspendable blockchain wallets, with the three largest burn transfers totaling 1,447,938, 1,359,610, and 1,000,000 SHIB respectively.

The recent surge in SHIB whale activity, coupled with significant transactions and price movements, indicates a dynamic period for the popular meme cryptocurrency. Investors and enthusiasts continue to closely monitor developments in the SHIB market.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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