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.
What happened #ThisWeekInCrypto? New UK Prime Minister @RishiSunak is a crypto enthusiast and CBDC supporter, @warnerbros launches NFT-access movies in the WB Movieverse, and an Inflation-pegged “flatcoin” will track cost of living rather than a fiat currency or commodity. pic.twitter.com/MILQHXgRHu
— Robinhood (@RobinhoodApp) October 29, 2022
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.