As a researcher with a background in cryptocurrencies and blockchain technology, I find the recent activity surrounding Shiba Inu (SHIB) particularly intriguing. The sudden surge of large transactions involving this popular meme coin to investment apps like Robinhood is noteworthy, as it could potentially indicate increased institutional interest or whale activity.
Approximately six hours ago, a mysterious individual transferred $75 million worth of Shiba Inu meme coins from an unidentified wallet to Robinhood, as revealed in a recent tweet by Whale Alert, a well-known blockchain observer.
As an analyst, I’ve observed that within the last 24 hours, SHIB, the second most widely-followed meme cryptocurrency, experienced a noteworthy price surge amounting to approximately 10%.
3 trillion SHIB on the move
Based on the given data, an enigmatic whale transferred an astronomical amount of 3 trillion Shiba Inu tokens worth around $74.7 million to Robinhood at that specific point in time.
This week, there has been a significant uptick in trading activity among SHIB whales. On May 15th, a prominent cryptocurrency trading firm, Cumberland, moved over 144 billion SHIB meme coins to Coinbase, the largest US crypto exchange. The value of this transaction was roughly equivalent to $3.3 million in traditional currency.
Prior to that, 50.36 billion Shiba Inu were deposited to OKX.
During the past week, prior to the surge of approximately 3 trillion Shiba Inu tokens, over 1.5 trillion SHIB coins were traded daily among active meme coin investors, commonly referred to as “whales.” These investors primarily transferred their holdings, ranging from 42.6 billion to 397 billion SHIB tokens, to prominent cryptocurrency exchanges such as Binance, Coinbase, Gate.io, and others.
As a crypto investor, I’ve noticed an intriguing development: Another anonymous cryptocurrency wallet has followed my recent move of holding approximately 3 trillion SHIB by depositing a substantial amount of another popular meme coin, around several hundred billion, onto the same platform. In particular, they transferred 200 million DOGE to Robinhood.
SHIB price breaks outÂ
As a crypto investor, I’ve noticed some exciting developments with one of my favorite meme coins, Shiba Inu, over the past day. Specifically, SHIB has experienced a significant bullish breakout, resulting in a 12.26% price increase during this period. Remarkably, nearly 4% of this growth occurred just within the last two hours.
At the time of this writing, SHIB is changing hands at $0.00002574.
SHIB burns jump 306.7%
The Shibburn explorer for the Shiba Inu meme coin has released data with good news for the SHIB community. Over the past 24 hours, this vibrant meme coin group has successfully gotten rid of approximately 10 million SHIB tokens. This action significantly boosted the burn rate metric by an impressive 306.7%, moving it into the positive zone.
I analyzed the data and found that it took over twenty separate transactions to move the Shib token from spendable wallets to unspendable ones on the blockchain. The largest three of these transfers represented the burning of 1,447,938, 1,359,610, and 1,000,000 SHIB tokens respectively.
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2024-05-16 11:07