Shiba Inu News: 1.75 Trillion SHIB Moves From Robinhood, What’s Happening ? #SHİB
HIGHLIGHTS 5 hours ago
A wallet address accumulated 1.75 trillion Shiba Inu (SHIB) tokens from Robinhood in two transactions.
Whale accumulation has been abundant from the dip recently, but this wallet belongs to Jump Trading.
SHIB price has increased by 6 percent in the last 24 hours.
Shiba Inu News: Whale tracker Whale Alert on Thursday recorded two transactions moving 1.75 trillion Shiba Inu (SHIB) tokens from Robinhood. Moreover, Shiba Inu price has increased over 6% over the last 24 hours as whales started accumulating, but 1.75 trillion SHIB transfer sparked buzz in the community renewing bullish sentiment.
Shiba Inu Whale Purchased 1.75 Trillion SHIB?
A wallet address withdrew a total of 1.75 trillion SHIB in two transactions of 875,000,000,000 SHIB worth $19 million each on May 2. The massive movement of Shiba Inu tokens from Robinhood to a single wallet address raised speculation of recovery in SHIB price after the recent drop.
SHIB Price Soars 6%
SHIB price jumped 6% in the past 24 hours, with the price currently trading at $0.00002214. The 24-hour low and high are $0.00002071 and $0.00002300, respectively. Furthermore, the trading volume has decreased slightly in the last 24 hours.
The SHIB futures open interest (OI) climbed 3% in the last 24 hours, indicating a rise in interest in the derivatives market. 1000SHIB futures OI on Binance also jumped 2% higher, with the buying activity continuing in the last few hours.
However, SHIB price has been trading below the descending trendline since March. If the price fails to bring a recovery at the current level, a reversal can occur.
Before the latest 1.75 trillion transfer, the wallet had moved 3 trillion SHIB 8 days ago and 4 trillion SHIB 13 days ago to Robinhood. Thus, it could be an internal wallet of Robinhood or a market maker. The tokens in the wallet has turned down the possibility of it belonging to Robinhood.
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