Shiba Inu Whale Moves Over 3 Trillion SHIB in One Transaction to Robinhood

Following Shiba Inu’s massive price spike, an anonymous whale has moved 3.02 trillion SHIB tokens to Robinhood. 

In a surprising development, an unidentified Shiba Inu whale shifted a whopping 3,023,255,579,400 (3.02 trillion) SHIB tokens worth nearly $50 million to an address affiliated with Robinhood.   

The transaction was indexed by prominent crypto whale tracking service Whale Alert in the early hours of today. 

🚨 🚨 3,023,255,579,400 #SHIB (49,933,096 USD) transferred from unknown wallet to unknown wallethttps://t.co/3D24M928iE

— Whale Alert (@whale_alert) March 1, 2024

Shiba Inu Community Reacts 

As expected, the movement of over 3 trillion SHIB caught the attention of Shiba Inu community members. Some users were curious to know the identity of the whale holding nearly $50 million in SHIB. 

who in gods name had 50m parked in shib

— sohrab.eth (@sohrab) March 2, 2024

Details of the Transaction 

According to Etherscan data, the anonymous whale moved the 3.02 trillion SHIB tokens in a single transaction on March 1, at 23:47 (UTC), to the Robinhood address. 

Despite depositing a substantial amount of SHIB on Robinhood, the user still holds 6.86 trillion tokens, worth approximately $150 million in the hours leading up to press time. 

Did Robinhood Send the Tokens? 

Although on-chain data did not reveal the identity of the sender, there is a likelihood that the sending address belongs to Robinhood.  

Besides holding $150M worth of SHIB, the address still has $183 million in ETH, $66.36 million worth of LINK, and $25.27 million in COMP, among others. 

Robinhood has remained one of the biggest holders of Shiba Inu since it listed the token in 2022. The trading platform bolstered its Shiba Inu holding in January following the accumulation of 140 billion SHIB tokens. 

This brought Robinhood’s total Shiba Inu holdings to 36.91 trillion tokens in January, making SHIB the company’s third largest crypto asset. 

Shiba Inu Now Ranks as 11th Biggest Crypto By Market Cap 

Notably, the transaction comes at a time when the price of Shiba Inu has been on an upward trend. Shiba Inu has surged nearly 70% over the past day to $0.00002315. 

Additionally, SHIB is up 130% in the weekly charts, 147% in the past 30 days, and 86% since March 2023. Shiba Inu’s 24-hour trading volume has also risen by 327% to 5.91 billion. 

Following its tremendous rally, Shiba Inu now ranks as the 11th-largest crypto asset, with a market cap of $13.25 billion. The canine-themed token achieved the feat today after outpacing TRX, LINK, DOT, and MATIC.