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Shiba Inu Whale Movement: 445 Billion Tokens Purchased

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Shiba Inu Whale Movement: 445 Billion Tokens Purchased

A whale address recently acquired over 445 billion Shiba Inu tokens from a Robinhood wallet as SHIB’s price corrected to the $0.000027 region. Whale Alert, a leading market tracking resource, first highlighted the significant fund movement. This occurred shortly after Shiba Inu’s price surged, retesting the $0.000029 territory amid a three-day winning streak.

Transaction Details

On-chain data from Etherscan shows the transaction occurred at 16:46 UTC, involving 445,868,091,840 SHIB tokens worth $12.171 million. The funds moved at an average price of $0.00002729 per SHIB, a 7% drop from the recent high of $0.00002945. While Robinhood’s address sent the tokens, the recipient remains unknown. However, data confirms the address now holds 527.3 billion SHIB, valued at $14.68 million at current rates. Notably, Shiba Inu represents the largest single holding by this whale, with Ethereum (ETH) in second place.

Related article: Shiba Inu Lead Developer Backs New SHIB Buying Strategy

This latest transaction marks the second significant SHIB whale movement involving the wallet and Robinhood. On May 28, it received 275 billion Shiba Inu tokens worth $7.6 million from Robinhood. Over the past month, the address has been procuring these tokens from Robinhood and Zero Hash, a platform that enables businesses to offer crypto payments via APIs.

Related article: Shiba Inu’s Stunning 16% Surge in a Single Day; Here’s Why

Interestingly, the whale has been offloading some Shiba Inu tokens systematically, moving out 200.91 billion SHIB to two different wallets in the past two days. This accumulation and distribution pattern makes it difficult to determine if the address belongs to an individual whale or is affiliated with Robinhood.

Similar Shiba Inu Movements

The timing of these transactions has drawn attention. The wallet remained dormant after receiving funds from Zero Hash five days ago but reactivated following Shiba Inu’s recent resurgence, which saw a 17% spike in three days.

Similar wallets have emerged recently. On May 2, The Crypto Basic reported one such address amassed 1.75 trillion Shiba Inu tokens in multiple transactions from Robinhood. Before these movements, the address sent 3 trillion SHIB to Robinhood in a single transaction last month.

Despite recent movements out of Robinhood, CryptoQuant data suggests more SHIB tokens are flowing into exchanges. Notably, exchanges saw a positive net flow of 1.069 trillion SHIB yesterday. This trend coincided with the retracement from the $0.000029 high, with Shiba Inu now trading at $0.00002736.

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Gibraltar, Gibraltar, 10th June 2024, Chainwire