SHIB Price Surges 12.2% After 3 Trillion Massive Transaction on Robinhood
A tweet recently published by the well-known blockchain tracker Whale Alert indicates that an unidentified wallet holder transferred a staggering $75 million worth of Shiba Inu meme coins to the popular investment app Robinhood approximately six hours ago. This transfer occurred as the second most popular meme cryptocurrency SHIB showed a 10% price increase in the last 24 hours. 3 trillion SHIB moved.
3 Trillion SHIB transaction on a goal
According to the data source mentioned above, an unknown whale moved 3,000,000,000,000 Shiba Inu to Robinhood. This substantial amount of meme coins was valued at around $74,788,500 at the time of the transaction.
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There has been significant activity among SHIB whales this week. On May 15, the large cryptocurrency trading firm Cumberland transferred 144 billion SHIB meme coins to the major US-based crypto exchange Coinbase. This transaction amounted to approximately $3.3 million in fiat. Prior to that, 50.36 billion Shiba Inu were deposited to OKX. In total, before the aforementioned 3 trillion SHIB transaction, more than 1.5 trillion Shiba Inu were exchanged within 24 hours by active meme coin whales.
These transactions mainly involved amounts ranging from 42.6 billion SHIB to 397 billion SHIB, and were sent to leading cryptocurrency trading platforms such as Binance, Coinbase, and Gate.io. In addition to the 3 trillion SHIB mentioned earlier, another unidentified wallet decided to deposit several hundred billion of another popular meme coin to the same platform. 200,000,000 DOGE were deposited to Robinhood.
SHIB price breakthrough
SHIB price surges. Over the last 24 hours, Shiba Inu, the second biggest meme coin by market capitalization value, has initiated a bullish breakout. SHIB has surged by 12.26% overnight, with 3.5% of this increase occurring in the past two hours. At the time of writing, SHIB is trading at $0.00002574. SHIB burns increase by 306.7%.
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SHIB burns rises to 306.7%
The Shibburn meme coin explorer has reported positive data for the SHIB community. In the last 24 hours, the community has managed to burn almost 10 million SHIB, resulting in a 306.7% increase in the SHIB burn metric. This accomplishment required more than twenty transactions to unspendable blockchain wallets. The three largest burn transfers involved 1,447,938, 1,359,610, and 1,000,000 SHIB, respectively.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
