- $75 million worth of Shiba Inu tokens transferred to Robinhood by an anonymous whale.
- Over 1.5 trillion SHIB tokens transacted by meme coin whales across major exchanges.
- SHIB experiences a 12.26% surge in value within 24 hours, with significant burn metrics increase.
Prominent blockchain tracker Whale Alert disclosed a startling $75 million transfer of Shiba Inu meme coins to the well-known investment site Robinhood. This move, orchestrated by an anonymous wallet owner, coincides with a significant increase in the value of SHIB, the second most popular meme cryptocurrency.
Whale Alert reports that the anonymous whale sent Robinhood a staggering 3 trillion Shiba Inu tokens, suggesting a significant change in the dynamics of the market. This week was also a busy one for SHIB whales, who moved huge amounts of money across several trading platforms.
One such event happened on May 15 when the biggest US-based cryptocurrency exchange, Coinbase, received 144 billion SHIB tokens from Cumberland, a large cryptocurrency trading company. The concurrent arrival of 50.36 billion Shiba Inu tokens to OKX increased the current market activity even more.
Furthermore, in less than a day, meme coin whales transacted over 1.5 trillion Shiba Inu tokens, mainly focusing on top cryptocurrency trading sites like Binance, Coinbase, and Gate.io. Remarkably, an anonymous wallet also sent 200 million DOGE to Robinhood, underscoring the diversification of meme coin investments.
Shiba Inu’s bullish breakout has captivated market observers, with a remarkable 12.26% increase in the last 24 hours alone. This increase highlights the SHIB token’s increasing momentum. In addition, the Shibburn meme coin explorer shows a notable increase in SHIB burn metrics, with the community dumping over 10 million tokens in the last 24 hours. With this combined effort, the SHIB burn metric has increased by an astounding 306.7%, indicating a shared dedication to lower token supply.
Finally, the recent surge of activity inside the Shiba Inu ecosystem, marked by significant token transfers, market spikes, and rising burn metrics, illustrates the changing dynamics of the meme coin market. The implications for SHIB’s future course are still highly sought after by the cryptocurrency community as market players work through these changes.
Read Also
Read CRYPTONEWSLAND on
google news
disclaimer read more
Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
