Crypto data tracker Whale Alert has detected a large movement of Shiba Inu in the last 24 hours. An address by the name of Robinhood received a large transfer of 3 billion SHIB tokens worth about $50 million from an unknown wallet.
Crypto data tracker Whale Alert has detected a large movement of Shiba Inu in the last 24 hours. An address by the name of Robinhood received a large transfer of 3 billion SHIB tokens worth about $50 million from an unknown wallet.
Whale alert reported, “3,023,255,579,400 SHIB ($49,933,096) were transferred from an unknown wallet to an unknown wallet.”
Robinhood’s acquisition of SHIB coincides with a notable rally for the token, which has soared more than 70% in the past 24 hours, reaching highs of $0.00002888 in early trading on Saturday.
SHIB has overcome many other major cryptocurrencies, including Bitcoin, Ethereum and Dogecoin, and has risen to 11th place in the market capitalization ranking, with a valuation of over $12.8 billion.
At the time of writing, SHIB was up 62.20% in the last 24 hours to $0.00002149. The dog token will also record its best weekly close since October 2021, currently up 129%, according to data from CoinMarketCap.
What happened on the chain before the huge SHIB pump?
As the price of Shiba Inu skyrocketed by approximately 70% in the last 24 hours, on-chain analysis platform Spot On Chain reports what happened on the chain in the last three days before the surge.
Point on the chain highlights three developments that could have contributed to SHIB’s price rise. First, a “smart trader” bought 75.91 billion SHIB, now worth $1.51 million, from Binance two days before the pump. This trader has now made over $614,000 in profits on his Shiba Inu purchase.
Secondly, MakerDAO co-founder Rune reportedly bought 7.41 billion SHIB with 100,000 USDC for the first time and made around $47.1 billion from his SHIB purchase.
Third, a wallet called UPbit has accumulated 2.13 trillion SHIB, currently worth $42.3 million, in the last 24 hours. Currently, this wallet is the seventh largest SHIB wallet, holding 12.45 trillion SHIB worth $247 million.
