The crypto community is buzzing about a big Shiba Inu holder who just shifted trillions of the meme coin. People are curious to find out where these tokens went and why the move was made.
According to on-chain data, the whale behind the move is none other than the crypto trading platform Robinhood. They transferred a massive 1.7 trillion SHIB tokens from one wallet to another in two separate transactions. In each transaction, they moved 875 billion SHIB tokens.
Robinhood’s Significant SHIB Transactions
The crypto platform Robinhood has gained attention for moving massive amounts of SHIB tokens between its wallets, potentially to meet customer demand. At one point, Robinhood accumulated 332 billion SHIB tokens in a single transaction.
Robinhood’s latest transaction coincides with the platform’s recent listing of the meme coin for its New York customers. It’s speculated that these whale transactions were made to fulfill buy orders from these customers. Such transactions from whales like Robinhood often signal optimism for the meme coin and can lead to price increases.
In addition to whale activity, other Shiba Inu investors are actively accumulating the meme coin. Data from the on-chain analytics platform IntoTheBlock indicates a bullish bid-ask volume imbalance for the meme coin. Moreover, there has been a notable increase in token burns, with data from the burn tracking website Shibburn showing a nearly 30% rise in token burns over the last seven days.
Cryptic Tweets from Shiba Inu Developers Spark Speculation
Shiba Inu’s lead developer, Shytoshi Kusama, recently shared a cryptic GIF on his X platform, formerly known as Twitter, featuring the word “Evita,” which translates to “life” in Latin. Similarly, another developer, Kaal Dhairya, also posted a GIF with the word “Evita,” hinting at a potential new project within the Shiba Inu ecosystem.
Members of the Shiba Inu community have been trying to decode the meaning behind these mysterious tweets. Despite their efforts, no concrete conclusions have been drawn, leaving only speculation. However, given Kusama’s history of making cryptic posts before major announcements, many believe there could be significant news on the horizon.
SHIB price struggles to hold $0.000024 | Source: SHIBUSDT on Tradingview.com
At the time of writing, Shiba Inu is trading at approximately $0.00002391, experiencing a decrease of over 3% in the last 24 hours, according to data from CoinMarketCap. This adds an element of intrigue to the situation, as the community awaits further developments.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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