An anonymous whale wallet has accumulated a staggering 1.75 trillion Shiba Inu tokens (SHIB), marking a substantial investment worth over $39 million.
This significant acquisition, executed through two rapid transfers, underscores the whale’s active engagement and substantial influence in the SHIB market despite the token’s recent price decline and market volatility.
On May 1, within the span of just one minute, the anonymous wallet orchestrated two transfers, each moving 875 billion SHIB tokens from Robinhood to its holdings.
875,000,000,000 #SHIB (19,679,610 USD) transferred from #Robinhood to unknown wallethttps://t.co/6shZCvoacJ
— Whale Alert (@whale_alert) May 1, 2024
The first transfer, valued at approximately $19.67 million, was swiftly followed by another identical transfer, bringing the wallet’s total SHIB holdings to an impressive 1.75 trillion tokens.
This recent acquisition is part of a broader pattern of activity by the anonymous whale on Robinhood. Last month, the wallet transferred a massive 3 trillion SHIB into the platform, highlighting its significant market presence and trading strategy. The wallet now holds more than 5.88 trillion SHIB, with a total value of approximately $128 million.
Market Response and Continued Interest in SHIB
Despite the recent downturn in the SHIB market, characterized by a price decline of over 10% in the last month, the anonymous whale’s actions suggest a continued interest in the token as holders continue to fix their gaze on a $0.001 SHIB price.
Similar patterns of large-scale transactions have been observed on other platforms, such as CryptoCom and Wintermute, where over 1.154 trillion SHIB tokens were transferred to anonymous wallets last month.
These transactions indicate the dynamic and volatile nature of cryptocurrency investments, where significant movements can occur even in the face of market downturns.
The whale’s strategic accumulation of SHIB tokens on Robinhood highlights the ongoing intrigue and activity surrounding Shiba Inu tokens despite recent market challenges. Recently, whale activity in the Shiba Inu market spiked by an astonishing 268%. This surge, reflected in large transaction volumes exceeding $100,000, reached $98.12 million within a single day. Such a substantial increase indicates heightened whale activity, signaling significant movements by large SHIB token holders, whether in buying or selling.
At the time of writing, the price of the Shiba Inu token has increased by 4.85% over the last 48 hours, with its current trading value at $0.00002455.
