- $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.
