In the cryptocurrency sector, significant events often have far-reaching effects on the market as a whole. Recently, one such event has garnered widespread attention. A massive whale, lurking in the depths of the digital sea, has executed a monumental acquisition of Shiba Inu tokens from the prominent American trading platform, Robinhood.
The story unfolds against the backdrop of Shiba Inu, a prominent meme coin. Examining its price trajectory in April reveals a turbulent journey. Starting at around $0.000028, the asset noted a decline of over 6.8%.
Therefore, by the end of the month, SHIB’s value further declined to around $0.0000022, which indicated a decrease of over 7%. At press time, the meme coin was trading at $0.0000022, with an additional rise of over 5%.
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Whale Makes Big Splashes
Amidst this volatility, an unidentified whale, cloaked in anonymity, has embarked on an extraordinary accumulation spree. The Whale Alert, a market tracker revealed a substantial outflow of Shiba Inu tokens from Robinhood, one of the leading exchanges in the United States.
On May 1, a staggering 875 billion Shiba Inu tokens, valued at over $19.67 million, departed from Robinhood to an undisclosed wallet. Simultaneously, an equivalent amount of SHIB swiftly flowed to another destination.
Also Read: Shiba Inu: SHIB Has Doubled Investor’s Money in a Year
Notably, both sets of tokens found their way into the same anonymous wallet, identified solely by its Ethereum address, “0x73af3bcf.” These wallets, serving as the sanctuary of the mysterious whale, orchestrated an impressive withdrawal of 1.75 trillion SHIB from Robinhood, amounting to a staggering value of $39,346,292.
Currently, the whale’s wallet holds an impressive stash of over 5.88 trillion Shiba Inu tokens. This is valued at an astounding $128,072,631. However, the recent withdrawal of 1.75 trillion SHIB tokens from Robinhood is not an isolated incident but rather a part of a larger pattern. Over the last 30 days, a whale has orchestrated transactions totaling 8.7 trillion SHIB tokens.
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