Shiba Inu Price Surges 70% as 3 Trillion SHIB Tokens Shifted to Robinhood Address

Shiba Inu Shib

In the past day, Whale Alert, a crypto tracking platform, detected a significant transfer involving Shiba Inu tokens.

An address labeled as Robinhood received a massive amount of 3 trillion SHIB tokens, valued at around $50 million, from an undisclosed wallet.

Whale Alert Flags Massive SHIB Transfer

Whale Alert, a well-known cryptocurrency monitoring platform, recently detected a significant transfer involving 3,023,255,579,400 SHIB tokens, valued at around $49.9 million, moving from an undisclosed wallet to another unidentified wallet.

This substantial transfer coincided with a remarkable surge in the price of Shiba Inu (SHIB) over the past 24 hours, with the token surging by more than 70%. During early Saturday trading, SHIB reached impressive highs of $0.00002888.

Surpassing major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin, SHIB has now claimed the 11th position in the market capitalization rankings, boasting a valuation exceeding $12.8 billion.

At the time of the latest update, SHIB’s price had surged by 62.20% in the past 24 hours, reaching $0.00002149. This surge positions the SHIB token to achieve its strongest weekly close since October 2021, with an impressive 129% increase, according to data from CoinMarketCap.

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On-Chain Insights into SHIB Price Surge

Spot On Chain, an on-chain analytics platform, has provided insights into the recent surge in Shiba Inu (SHIB) prices, which skyrocketed by approximately 70% in the past 24 hours. Here are three key occurrences observed on-chain in the days leading up to the price pump:

Two days prior to the price surge, a “smart trader” made a significant purchase of 75.91 billion SHIB tokens from Binance, amounting to approximately $1.51 million. Following the pump, this trader has realized gains exceeding $614,000 on their Shiba Inu investment.

MakerDAO co-founder, Rune, reportedly acquired 7.41 billion SHIB tokens for the first time, utilizing 100,000 USDC. This purchase has resulted in gains of approximately $47.1 million on Rune’s SHIB investment.

Within the past 24 hours, an UPbit-named wallet has amassed a considerable amount of SHIB, totaling 2.13 trillion tokens, valued at around $42.3 million. Presently, this wallet ranks as the seventh-largest holder of SHIB, possessing 12.45 trillion tokens valued at $247 million.

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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