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HomeCrypto NewsMarketShiba Inu Enters Robinhood Top 5 Gainers List

Shiba Inu Enters Robinhood Top 5 Gainers List

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Shiba Inu ranks among the best-performing cryptos on Robinhood.

The massive price increase of Shiba Inu in the past seven days helped the token rank among Robinhood’s top 5 cryptos with the most gains this week.

According to the data, Shiba Inu soared 18% this week to rank as the fourth cryptocurrency with the most gain on Robinhood. The leading canine-themed token was only behind Avalanche (AVAX), Ethereum (ETH), and Dogecoin (DOGE).

Robinhood made this known in a tweet, which discussed the events in the cryptocurrency space this week.

At the time of writing, Shiba Inu is trading at $0.00001168, up 17.3% in the past seven days. The crypto asset took advantage of the recent market relief to put smiles on investors’ faces. It is worth noting that Shiba Inu recorded a series of positive events this week. As reported, Bitstamp exchange announced that it has made Shiba Inu trading available to its U.S. customers.

Massive Whale Accumulation Before Price Increase

Interestingly, whales appear to have gotten prior information that the price of Shiba Inu will skyrocket this week. These investors purchased large volumes of SHIB over the week before the rally.

A new whale bought a whopping 3.37 trillion SHIB tokens worth $37.46 million two days ago. On the same day, another mysterious whale made a groundbreaking purchase of Shiba Inu, totaling 3.94 trillion Shiba Inu tokens ($42.9 million). Furthermore, an existing Shiba Inu whale purchased 165 billion units of SHIB ($1.92 million), following other whales.

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Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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