600 Billion SHIB Mysteriously Launched Robinhood: What’s Happening?

600 Billion SHIB Mysteriously Launched Robinhood: What's Happening?

Popular cryptocurrency tracker Whale Alert, which tracks large cryptocurrency transfers, has spread the word about the withdrawal of several hundred billion SHIB meme coins from major trading platform Robinhood. The destination of this transfer is an anonymous wallet.

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Popular cryptocurrency tracker Whale Alert, which tracks large cryptocurrency transfers, has spread the word about the withdrawal of several hundred billion SHIB meme coins from major trading platform Robinhood. The destination of this transfer is an anonymous wallet.

In addition to this massive SHIB transfer, Whale Alert also detected two other large meme crypto transactions, as 326 million Dogecoin were moved from the same platform.

600 billion SHIB and 326 million DOGE on the move

The huge transfer of over half a billion Shiba Inu meme coins was detected by the data source mentioned above approximately 13 hours ago. In fiat currency, this is the equivalent of $13,713,299. The transaction was made on a blockchain wallet labeled by Whale Alert as unknown.

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This transaction was made between two large transfers of another popular meme cryptocurrency: Dogecoin: 200,000,000 and 126,705,738 DOGE (almost 327 million DOGE in total), valued at $28,790,166 and $18,431,371.

Overall, SHIB whale activity has seen a drastic increase lately; As reported by Guru-Investingover the past week, a staggering 17 trillion SHIB was transferred, according to data shared by IntoTheBlock.

Still, a deeper look at these three trades made from Robinhood shows that all three meme coin chunks ended up on Robinhood, and the target wallets belong to this trading venue, indicating that Robinhood has been reorganizing its SHIB holdings. and DOGE. .

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Mon, 06/10/2024 – 15:08
SHIB Soars by Huge 15,654% in Crucial Metric as Price Surge Fails

SHIB Key Metric Soars 2,814%

According to explorer Shibburn, as of yesterday morning, the SHIB community has made significant progress in reducing the circulating supply of SHIB. Their joint efforts to burn SHIB have helped raise the burn rate at 2.814%sending a total of 7,912,388 Shiba Inu meme coins to unusable blockchain addresses.

So far there have been seven burn transfers in total, with the three largest carrying 4,320,587; 1,538,128 and 1,031,814 SHIB. The small burn transfer here constituted 5,683 SHIB.

Bearish SHIB price behavior

Over the past 24 hours, the second largest meme cryptocurrency by market cap size has shown negative market performance as decreased by 5.5%falling to the $0.00002218 price mark.

This price drop coincided with a similar move by bBitcoin, which plunged almost 4% in the last 24 hours, missing the $70,000 level and falling to $66,997.

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