An anonymous wallet has withdrawn 1.75 trillion Shiba Inu from the Robinhood exchange, continuing its ongoing accumulation spree as the SHIB price dips.
Recently, the automated market tracker Whale Alert documented the substantial outflow of Shiba Inu tokens from the renowned American exchange Robinhood.
Specifically, on May 1, at 10:48 PM (UTC), 875 billion Shiba Inu tokens valued at over $19.67 million left Robinhood for an anonymous wallet. Within a minute of this transaction, a similar quantity of SHIB tokens was transferred from Robinhood to an unknown wallet.
🚨 875,000,000,000 #SHIB (19,666,682 USD) transferred from #Robinhood to unknown wallethttps://t.co/hxSvwFxC0E
— Whale Alert (@whale_alert) May 1, 2024
Interestingly, the 875 billion Shiba Inu tokens found their new home in the same anonymous wallet “0x73af3bcf.” In total, this whale has withdrawn a staggering 1.75 trillion SHIB tokens from Robinhood, amounting to a value of $39,346,292.
Shiba Inu Whale Ongoing Accumulation Spree
At press time, data from Etherscan indicates that the recipient wallet still retains the withdrawn SHIB tokens. Moreover, the wallet has been on an accumulation spree for weeks. Throughout April, it received various digital assets such as AERO, LIBRA, and LINK from other exchanges such as Uniswap.
Before the latest 1.75 trillion Shiba Inu inflow from Robinhood, the whale had sent 3 trillion SHIB tokens to the exchange on April 24. Meanwhile, five days earlier, the wallet sent 4 trillion SHIB to Robinhood after several influxes of Shiba Inu tokens from the exchange.
Overall, this address under scrutiny has sent 8.7 trillion SHIB tokens over the last 30 days to “Robinhood 2,” although it took a more staggering inflow through the same period. At the time of this report, the whale wallet retained over 5.88 trillion Shiba Inu tokens, valued at $128,072,631.
Significantly, most transactions involving Shiba Inu tokens within wallet “0x73af3bcf” have originated from and been sent to the Robinhood wallet. Coupled with its substantial SHIB holdings, this pattern strongly implies an association between wallet “0x73af3bcf” and Robinhood.
Other Entities Stocking SHIB Amid Dip
Whale alert has also documented staggering inflows from trading platforms CryptoCom and Wintermute to anonymous wallets in April. SHIB accumulated from these two platforms amounted to over 1.154 trillion in the last 30 days.
These accumulation frenzies have continued despite Shiba Inu crashing by over 20% in the last month. At press time, SHIB trades at $0.00002182 with barely a 1% gain in the last 24 hours.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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