- An anonymous wallet accumulated 1.75 trillion Shiba Inu tokens, worth over $39 million, in two rapid transfers on Robinhood.
- The wallet’s active engagement on Robinhood includes significant transactions totaling over 3 trillion SHIB last month.
- Despite SHIB’s monthly price decline of over 16%, high trading volumes and wallet activities signal ongoing interest in the token.
On May 1, a significant transaction on the Robinhood exchange saw an anonymous wallet accumulate 1.75 trillion Shiba Inu tokens, valued at over $39 million. This massive withdrawal involved two transfers, each moving 875 billion SHIB within a minute, signaling a robust accumulation strategy by the wallet holder.
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Transaction Details and Market Impact
At precisely 10:48 PM UTC, the first batch of 875 billion tokens, worth approximately $19.67 million, swiftly exited Robinhood and was deposited into the anonymous wallet, tagged “0x73af3bcf.” This wallet quickly duplicated the action with another 875 billion tokens, bringing the total Shiba Inu holdings for this wallet to an impressive tally on that day alone.
Over the past month, this wallet has been notably active, engaging in high-volume transactions that underscore its heavy influence on the SHIB market. Before this colossal withdrawal, the wallet injected 3 trillion SHIB to Robinhood on April 24, showcasing a dynamic exchange of assets, including frequent inflows and outflows with the platform.
Furthermore, the whale’s transactions predominantly connect with Robinhood, suggesting a specialized trading arrangement or a targeted strategy with this exchange. This wallet’s activities reflect its significant market presence, holding more than 5.88 trillion SHIB, valued at approximately $128 million.
Besides this wallet’s activities, the broader SHIB market has witnessed similar moves. Platforms like CryptoCom and Wintermute reported significant SHIB inflows to anonymous wallets last month, totaling over 1.154 trillion tokens. These transactions occur amidst a broader market downturn, with SHIB’s price falling by more than 16% over the last month.
Despite the market’s recent dips, the trading volume and wallet activities suggest a continuous interest in Shiba Inu tokens, highlighting cryptocurrency investments’ volatile yet intriguing nature.
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