Shiba Inu Whale Shifts 1.25 Trillion SHIB Amid Market Volatility, Here’s The Destination

Name	Symbol	Market	Market Cap ($)	Algorithm
SHIBA INU	SHIBUSD	Crypto	11,196,336,592	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SHIBA INU

SHIBUSD

Crypto

11,196,336,592

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.00	0.00%	0.000019	0.000019	0.000019

Price Change

Price Change %

Current Price

Bid Price

Offer

0.00

0.00%

0.000019

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.00002	0.000018	0.00002	0.000019	0.00000662 - 0.000048

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.00002

0.000018

0.00002

0.000019

0.00000662 - 0.000048

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:13:36	3,823,470.00	0.000019	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:13:36

3,823,470.00

0.000019

USD

Price x Volume	Volume	Base Symbol	Related Pairs
40,591,984.95	242,355,455,239.93	SHIB	SHIBEUR	SHIBGBP	SHIBBTC

Price x Volume

Volume

Base Symbol

Related Pairs

40,591,984.95

242,355,455,239.93

Shiba Inu Whale Shifts 1.25 Trillion SHIB Amid Market Volatility, Here’s The Destination

06/03/2024 5:00pm

NEWSBTC

SHIB’s recent price movement has been nothing but explosive. As of late, Shiba Inu has established itself as a leading performer in the cryptocurrency market, performing as high as 300% in a seven day timeframe. Interestingly, a large SHIB transaction seems to have caught the eye of investors. According to whale transaction tracker Whale_Alerts, 1.25 trillion SHIB tokens worth $51.3 million were sent into an unknown wallet. On further investigation into on-chain data, it was determined that the recipient wallet is a Robinhood-linked wallet address. Whale Shifts 1.25 Trillion SHIB Shiba Inu’s ecosystem is home to many whale investors, and transactions among these whales are not uncommon. According to on-chain data from IntoTheBlock, whale transactions greater than $100,000 have been increasing in the past few days. As a result, the number of transactions from this cohort spiked to 3,848 on March 5 as compared to 2,222 on March 4 and 845 on March 3. Furthermore, data from the on-chain analytics platforms shows that the total value of transactions greater than $100,000 has now reached $5.77 billion in the past seven days. Related Reading: Institutions Can’t Get Enough Of Crypto As Trading Volumes Hit New $30 Billion Record One of the most significant transfers during this timeframe that was reported by Whale_Alerts is the transfer of 1.25 trillion SHIB tokens from crypto exchange Cumberland into a wallet linked to Robinhood. While the identity of the individuals involved in the transfer is unknown, the whale transfer appears to have generated interest from SHIB investors as it comes amid extreme market volatility. Possible explanations include profit taking from a whale or an institutional investor buying SHIB. 🚨 🚨 1,250,318,249,876 #SHIB (41,329,269 USD) transferred from #Cumberland to unknown wallethttps://t.co/i7SYyYui4K — Whale Alert (@whale_alert) March 4, 2024 Notably, another recent SHIB transaction alert from the whale tracker indicates a similar transfer of 167 billion SHIB tokens from Wintermute, a crypto algorithmic trading firm to crypto exchange Binance. At the time of transfer, the SHIB tokens were worth $5.28 million. 🚨 167,809,919,988 #SHIB (5,286,935 USD) transferred from #Wintermute to #Binancehttps://t.co/aU8tNgMsxB — Whale Alert (@whale_alert) March 5, 2024 Shiba Inu To Keep Soaring? SHIB broke above the $0.00004 mark twice in the past 24 hours. However, it has since corrected a 7.5% and is now trading at $0.000035. Nevertheless, the cryptocurrency is still up by 230% in the past seven days and 304% in the past 30 days. Related Reading: The Ethereum Foundation Is Selling ETH Again, Is The Top In? The recent price surge has caused Shiba Inu to move up to 10th place in terms of market cap rankings. More holders have also turned a profit, with 73% of wallet addresses now making money. 11% of addresses are at break even, while 17% are still at a loss. More holders are set to move into profit if Shiba Inu resumes its price increase. The first step would be to cross over the $0.000045 mark. Activity on Shiba Inu’s layer-2 network Shibarium also points to continued price growth. The recent price surge has seen Shibarium witnessing an increase in the number of active accounts. Data shows daily active accounts reached 1,896 on March 4 and 1,227 on March 5 after spending the majority of February below 1,000. SHIB price at $0.0000339 | Source: SHIBUSD on Tradingview.com Featured image from FXLeaders, chart from Tradingview.com

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