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

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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. 

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. 

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. 

Shiba Inu ranks as 11th largest crypto
Shiba Inu ranks as 11th largest crypto

XRP Finally Breaking 6-Year Triangle, Analyst Targets $3.5

A prominent analyst has suggested that XRP is finally cracking its six-year standing triangle, expressing conviction that a massive rally to $3.5 is coming.

XRP Breaking 6-Year Triangle

In a recent update on X, prominent analyst “JD” expressed astonishment at an intriguing development in the XRP market chart. JD conveyed a sense of joyous disbelief regarding XRP’s departure from the bearish trend that has persisted since its peak in 2018.

Specifically, JD declared that XRP appears to be breaking free from its six-year trendline. He underscored the potential for a substantial bullish surge once the breakout is ultimately confirmed.

JD shared a chart illustrating XRP’s performance since 2017 to support his argument. The chart revealed XRP’s subdued performance over the past six years following its historic rally, with a notable uptick only occurring in 2021.

Meanwhile, the recent Bitcoin-led crypto market frenzy has benefited XRP. In particular, JD’s observation of a breakout comes amid XRP rallying by 8.5% over the past 24 hours. The asset grew from a low of $0.5874 to a height of $0.6352.

Furthermore, XRP’s seven-day trajectory currently sits significantly higher at 16.5%. This noteworthy performance follows several weeks of relative passivity.

Building upon the observed breakout, JD argued that the forthcoming bullish rally could propel XRP toward the $3.5 mark once the pattern entirely breaks.

It is worth noting that XRP last reached this level in early 2018. Considering its current price of around $0.6348, a rally to $3.5 would represent a remarkable 451% gain.

Notably, JD has urged XRP investors to take calculated profits through its price rally towards $3.5.

More Analysts Bullish About XRP 

Meanwhile, JD is not the sole analyst predicting that XRP will surpass the $1 threshold during this cycle’s rapidly escalating bull rally. Esteemed analysts like EGRAG set their sights at $2.

Besides, analyst Dark Defender has contended that XRP’s reclaiming of the $0.62 territory, which has materialized, could serve as the confirmation for a rally toward $2.

Shiba Inu Lead Developer Believes SHIB Could Soar Past $0.00012

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Shytoshi Kusama, the Shiba Inu lead developer, is more bullish on the dog-themed coin than most, recently noting that a $0.00012 price projection is a conservative one for the token.

Shiba Inu has captured the attention of the broader crypto community, recently breaching multiple psychological resistance thresholds to hit the $0.000021 mark. Before this spike, The Crypto Basic called attention to a disclosure from Lucie, a Shiba Inu marketing specialist.

SHIB’s Previous Rally

Amid the persistent calls for increased Shibarium-based burns to bolster price, Lucie emphasized on X this week that part of Shiba Inu’s historic rally in 2021 occurred even before Ethereum founder Vitalik Buterin executed the monumental 410 trillion SHIB burn.

According to Lucie, Shiba Inu rallied by over 800% before the burn occurred. On-chain data confirmed that the surge was as high as 2,167%, with SHIB hitting a high of $0.00003469 six days before the Buterin burn. 

The rationale is that if Shiba Inu could hit such a high price based on demand even before Vitalik Buterin’s burn or any burns, then the asset has the potential to record a similar surge now that it witnesses periodic burns coupled with increased demand.

The Crypto Basic assessed the feasibility of this projection, evaluating how high SHIB could go if it replicated that previous surge. At the time, an 800% rise in Shiba Inu’s price would take the crypto asset to $0.0001206, representing a new all-time high.

Kusama: $0.00012 an “Underestimate” for Shiba Inu

Most recently, Shytoshi Kusama addressed this evaluation, indicating his overwhelming confidence in Shiba Inu. While others expressed doubt about SHIB clinching the $0.0001206 point, Kusama stressed that this price target was even too low for the asset.

Quoting the article from The Crypto Basic, the Shiba Inu lead developer remarked, “Underestimate,” signaling that he believes the projected price was underwhelming for Shiba Inu. This exemplifies the confidence most Shiba Inu community members have in the asset, leading to price predictions to as high as $0.001.

Interestingly, shortly after the article from The Crypto Basic, Shiba Inu demonstrated that it could indeed rally without increased burns. The asset surged by 87% from $0.00001256 yesterday to a high of $0.00002350 today, outperforming the entire crypto market.

Despite witnessing a roadblock at $0.00002350, Shiba Inu has retained most of its recent gains. The crypto token has maintained its position as the top gainer among the 100 largest cryptocurrencies, currently trading for $0.00002154, with an impressive 64% surge in the past 24 hours.

Shiba Inu Lead Reacts as K9 Finance Explains How Its Project Can Boost Shibarium TVL

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K9 Finance explains how its liquid staking platform can bolster Shibarium’s Total Value Locked (TVL). 

Shiba Inu lead developer Shytoshi Kusama has called attention to an analysis from Shibarium latest partner K9 Finance regarding how it plans to bolster the network’s TVL.

Notably, the analysis was provided by Buzz.Shib, K9 Finance DAO founder, in a recent X post. According to Buzz, the Shiba Inu community has been curious about how the K9 Finance project could impact Shibarium and its official gas token, Bone ShibaSwap (BONE). 

BONE Stakers to Earn More APY on K9 Finance  

First, Buzz gave a rough estimate illustrating that Shiba Inu community members have staked 35.5 million BONE tokens (worth $22 million at the time of the analysis) on ShibaSwap and Ethereum. According to Buzz, these BONE stakers earn less than 5% APY (annual percentage yield). 

He pointed out that BONE stakers can earn more yield when they stake on K9 Finance, a Shibarium-based liquid staking and derivatives platform. 

Besides earning more APY, BONE holders will also receive a liquid staking token, knBONE, representing the exact value of their stakes. 

For instance, someone who stakes $200 worth of BONE on K9 will receive the liquid knBONE token, which is equivalent to $200.   

Shibarium TVL Would Rise Significantly 

Per Buzz’s analysis, if all users stake the total 35.5 million BONE on K9, it would represent $22 million of Shibarium’s total value locked (TVL). 

Furthermore, he projected that if the Shiba Inu community eventually reaches the industry average of $50 million, Shibarium’s TVL, which stood at $1M during the analysis, would spike by 50X. Following the estimation, the DAO founder of K9 Finance emphasized that he is bullish on Shibarium. 

So far, Shibarium’s TVL has surged over 30% since Buzz gave the estimation. The L2 network currently boasts a TVL of $1.32 million, according to data from DeFiLlama. In the meantime, K9 Finance is preparing for the launch of its native token, KNINE, slated for March 7. 

Here’s What Happened On-chain Just Before Shiba Inu Explodes by 69%

While Shiba Inu has registered an explosive 69% gain in under 24 hours, on-chain data has shown how whales perfectly timed their entry into the SHIB market just before the rally.

Over the past day, Shiba Inu surged beyond the $0.00002 mark in a remarkable rally unseen for many months. Specifically, SHIB climbed from a low of $0.00001266 to a peak of $0.00002142.

These figures represent a 69% increase, driven by crypto enthusiasts conducting trades totaling over $4.6 billion SHIB in the last 24 hours. The trading volume spike is noteworthy as it marked a 205% surge compared to the preceding day.

Amid this praiseworthy trajectory, Spot On Chain, a renowned tracker of blockchain transactions, called attention to the recent activities of Shiba Inu whales.

The point of the disclosure was that the whales exhibited perfectly timed transactions, occurring within two days before the 24-hour rally from SHIB.

Shiba Inu Whales Stock over 83B Tokens

In a recent post on X, Spot On Chain highlighted three such whale maneuvers preceding the significant surge in Shiba Inu.

Specifically, the market tracker pointed out that a savvy trader with the wallet initials “0x37d” amassed a stash of over 75.91 billion units of SHIB tokens. 

The trader had withdrawn the tokens from the largest crypto exchange, Binance. Spot On Chain emphasized that the movement occurred just two days before Shiba Inu recorded the explosive growth.

Considering Shiba Inu’s current market value of $0.00002142, the accumulated tokens are worth more than $1.61 million. Consequently, the savvy Shiba Inu trader has netted a profit of over $614k, with an ROI of over 70%.

Meanwhile, the second whale activity Spot On Chain highlighted related to MakerDAO co-founder Rune Christensen. Blockchain data suggests Christensen acquired 7.41B SHIB with $100K USDC stablecoin within the last 24 hours. Spot On Chain suspected that the transaction was the first of its kind. 

The market tracker noted the MakerDAO co-founder has since witnessed a return on investment of over 47%. However, considering SHIB’s market value, the new portfolio has seen a profit exceeding $58k.

Exchange Wallet Amassed 2.13T SHIB

In parallel, another whale with wallet initials “0x02e,” suspected to be related to the Upbit exchange, accumulated 2.13 trillion Shiba Inu. These newly accumulated tokens now wield over $45 million in market value. 

Spot On Chain noted that the address ranks among the seventh largest wallets holding Shiba Inu, with 12.45 trillion tokens valued at over $247 million.

Cumulatively, the highlighted purchases represent an astonishing accumulation of 2.213 trillion SHIB acquired recently.

Shiba Inu Aims for $0.00003017 After Breaching $0.00002 Amid 62% Spike in 24H

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Shiba Inu has taken the market by storm, recently spiking 62% to breach $0.00002 and establish itself as the top gainer, with an aim to push toward the $0.00003 threshold.

The recent market-wide momentum was triggered by Bitcoin’s (BTC) latest uptrend amid a confluence of dried up supply and increased institutional demand. However, it appears assets such as Shiba Inu have outperformed BTC during this market uptrend despite staying in the background.

SHIB Outperforms BTC, Secures Top Gainer Spot

With Bitcoin’s surge from $51,728 on Feb. 26 to the peak of $64,000 on Feb. 28, the crypto asset recorded a 23% increase. Meanwhile, within this same timeframe, SHIB surged from $0.00000967 to a high of $0.00001473, marking a more substantial 52%.

While Shiba Inu has continued to silently outperform Bitcoin and most mainstream assets in the current uptrend, its recent price spike, which began yesterday, has now placed it in the spotlight.

SHIB surged from $0.00001256 to a high of $0.00001728 yesterday, representing its highest value since August 2022. Despite facing resistance at this high, Shiba Inu showed resilience against the bears, eventually closing yesterday at an 18-month high of $0.00001687 amid a 34% gain.

The rally has now spilled over, with SHIB recording the most substantial price surge for any mainstream asset in the market. Shiba Inu is up by an astonishing 62.33% over the past 24 hours, as it breaches the much-coveted $0.00002 price territory, with a goal to solidify its spot on this level while it prepares to push ahead.

Due to this dramatic surge, Shiba Inu has established itself as the largest gainer among the top 100 assets, towering over Pepecoin (PEPE), which currently boasts a 58.82% surge in 24 hours. SHIB’s push above $0.00002 is a plot to solidly conquer $0.00001 and test the $0.00002 level.

Shiba Inu Secures Top Gainer Spot
Shiba Inu Secures Top Gainer Spot | CoinMarketCap

Shiba Inu Aims for $0.00003017

The asset has stationed multiple support levels above $0.00001 in the event of a correction. Having pushed above $0.00002, Shiba Inu now has its eyes set on greater heights. With the $0.00003 territory now the next target to reclaim, SHIB would need to surpass multiple resistance levels to hit this point.

The first major resistance on the monthly timeframe currently sits at $0.00002144, aligning with the Fibonacci 0.382 level. Should Shiba Inu record a sustained uptrend above this zone, it would need to battle the bears at Fib. 0.5, stationed at the potent resistance point of $0.00002581.

Shiba Inu Resistance Levels 074654
Shiba Inu Resistance Levels

A breach of Fibonacci 0.5 would confirm an imminent push toward the $0.00003 territory, as Shiba Inu’s next resistance point currently hangs at the $0.00003017 price, a level the bears would look to leverage for a push to lower levels should SHIB retest $0.00003.

However, breaking these pivotal resistance points in one fell swoop would be challenging for SHIB. As a result, traders can expect a correction before the first major resistance. Nonetheless, Shiba Inu boasts a long-term support at $0.00001605 to hedge against any drops to $0.000015 or $0.00001.

Shiba Inu 1D Chart 074659
Shiba Inu 1D Chart

Shiba Inu currently trades for $0.00002050, seeking to break into $0.000021 in the short term. The asset has now decisively towered above its 50-day EMA ($0.00001043) and 200-day EMA ($0.00000936), with an impressive streak of seven consecutive winning days over the past week.

Ripple Locks 800M XRP in Escrow After Unlocking Only 500M XRP in March 

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Ripple has put back 800M XRP coins in escrow despite unlocking only 500M XRP on the first day of March. 

Leading crypto payments company Ripple has locked 800 million XRP in its escrow accounts. According to data from Whale Alerts, Ripple locked the XRP coins in three different transactions on March 1. 

Ripple Locks 800M XRP 

For the first transaction, Ripple locked 100 million XRP worth $59.48 million in the escrow account on March 1 at 18:50 (UTC). 

Similarly, the leading crypto payments company also put back another 200 million XRP valued at $118.94 million in the escrow wallet. The transaction took place at the same time as the first. 

Lastly, Ripple also locked the last batch of XRP for March 2024, which saw a lump sum of 500 million XRP put in the escrow account. At the time of the transaction, the tokens were worth $297.65 million

Ripple Unlocks Only 500M XRP in March 

According to data from Whale Alert, it appeared that Ripple deviated from the monthly schedule program set for its XRP escrow service. Typically, Ripple usually unlocks 1 billion XRP on the first day of each month before putting back 800M XRP in the escrow wallets. 

The tokens are unlocked in three tranches- 500 million, 400 million, and 100 million XRP coins, respectively. After the 1B tokens are unlocked, Ripple locks back 800M XRP in escrow in three transactions- 500M, 200M, and 100M XRP. 

Like last month, the Whale Alert service did not index Ripple’s token unlock of 1 billion XRP. Upon further analysis, The Crypto Basic discovered that Ripple unlocked 500 million XRP on March 1 at 00:00 (UTC). 

Ripple also attempted to unlock another substantial amount of XRP yesterday, but the transaction failed. The failure error indicated that the transaction referenced a non-existing escrow object. 

Whether Ripple will unlock the remaining 500 million XRP later this month remains to be seen. Recall that Ripple initially unlocked 600M XRP on February 1. Due to an error, the company could not unlock the remaining 400M XRP to complete the total sum of 1B coins. 

Notably, the error was resolved on February 25, allowing Ripple to unlock the remaining 400M XRP for the month of February. 

Ripple could follow a similar pattern in March and unlock the remaining 500M XRP to complete 1B XRP programmed to be released monthly. 

Shiba Inu Celebrates as SHIB Rallies above $0.00002, Breaking 22-Month High

Shiba Inu has broken its 22-month highs with a 121% rally to trade above $0.00002, sparking massive celebrations from community members.

Shiba Inu Rallying 121%

In the last 24 hours, Shiba Inu broke above the $0.00002 threshold with an explosive rally not seen in months. In particular, SHIB has grown from a low of $0.00001266 to as high as $0.00002098 within the past day.

This price performance translates to a significant 65.78% growth, influenced by crypto market participants exchanging over $4,231,240,004 in the last 24 hours.

Notably, this trading volume reflects a 138.40% increase compared to the value recorded on the previous day.

Meanwhile, Shiba Inu’s price performance is even more spectacular on the seven-day scale. In particular, SHIB recorded a low of $0.000009486 on February 24.

However, precisely seven days later, the asset had grown explosively by 121.16% to its current 24-hour peak of $0.00002098.

According to historical data, the last time Shiba Inu witnessed the $0.00002 range was around May 2022. Essentially, the asset has broken a 22-month high within the past day. 

SHIB Army Celebrates 

This commendable trajectory has sparked massive celebrations from the Shiba Inu community, with the lead developer, Shytoshi Kusama, joining the merrymakings.

Taking to X, Kusama posted a celebratory gif containing the inscription telling the SHIB Army, “Let’s f*cking go!”

Likewise, the Shiba Inu official X account shared a similar message, urging the SHIB Army, “Go with the flow. It’s all about vibes.”

In parallel, prominent Shiba Inu market analyst SHIB KNIGHT celebrated the performance. He posted a graph that showed how SHIB engineered a long greenish candle from below $0.00001 to above $0.00002. 

Recall that just five days ago, SHIB KNIGHT had forecasted this rally by arguing that Shiba Inu would break from its long bearish trend.

While SHIB was within the $0.000009 range, he targeted a price of $0.000022, which has largely materialized.

Factors Propelling Shiba Inu

Shiba Inu established these performances by mirroring Bitcoin’s recent rallies that shattered the 2021 highs.

Another factor is a groundbreaking partnership that the Shiba Inu ecosystem recently secured with Zama, a prominent firm at the forefront of privacy solutions.

Shiba Inu Spikes 112%, Flips DOT and MATIC to Take 13th Place

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Shiba Inu is now the 13th largest cryptocurrency by market capitalization, following a 112% weekly surge that saw it outpace DOT and MATIC. 

Shiba Inu has been on an upward trend since this week, surging to a weekly high of $0.00002121. Following its tremendous rally, Shiba Inu secured the 13th spot in the global crypto ranking by market capitalization, outpacing Polkadot (DOT) and Polygon (MATIC). 

Shiba Inu achieved the groundbreaking feat following a 112.83% surge in the past week and a 124% spike in the monthly charts. 

Shiba Inu Ranks as 13th Largest Crypto 

The token’s remarkable performance in the past week pushed Shiba Inu’s market capitalization to an astounding $11.91 billion. Interestingly, Shiba Inu is now the 13th largest cryptocurrency by market capitalization. 

Shiba Inu outpaces DOT and MATIC
Shiba Inu outpaces DOT and MATIC

It is worth mentioning that the 13th spot was previously held by DOT in the past weeks, with MATIC claiming the position on a few occasions. 

With Shiba Inu becoming the 13th biggest crypto by market cap, DOT and MATIC have been shoved down to the 14th and 15th positions, respectively. While DOT boasts a market cap of $11.42 billion, MATIC’s valuation stands at $10.51 billion. 

At press time, Shiba Inu ranks behind Chainlink (LINK), which has a market cap of $12.15 billion. 

Shiba Inu Lead Reacts to Favorable SHIB Prediction 

Shiba Inu’s jaw-dropping rally to the 13th position comes days after analysts forecasted that the token could repeat history by surging 800% in one week. 

According to the prediction, Shiba Inu could surge to $0.0001206 in a week. Shiba Inu’s lead developer reacted to the prediction by suggesting that investors underestimate SHIB’s prowess. 

Positive Shiba Inu Developments 

Shiba Inu’s elevation to the 13th spot in the global crypto ranking comes hours after it was reported that the community incinerated 643.65 million SHIB ($13,194) in February alone. 

The move contributed to the ongoing burn initiative that has seen 410.708 trillion tokens destroyed since Shiba Inu’s inception. Aside from burns, Shiba Inu has also recently witnessed widespread adoption. 

As reported earlier, an Ethereum whale who made a profit of $3.49 million investing in PEPE diverted some of their earnings to Shiba Inu. Specifically, the investor scooped up 75.9 billion SHIB worth $893,000 on February 29. 

In the meantime, Shiba Inu was changing hands at $0.00002050, up 57% over the past 24 hours. The token has also witnessed a spike of 133.38% in its daily trading volume, which currently stands at $4.21 billion. 

Expert Sets $1.35 Short-Term Target for XRP Amid Bull Run Surge

Prominent XRP figure Tony Edward has disclosed his latest short-term target of $1.35 for XRP in the emerging bull run.

Tony Edward, the host of Thinking Crypto Podcast, known for his pro-XRP views, recently disclosed his new venture into the XRP market.

In a post on X, Edward revealed that he entered a trade outside his usual long-term XRP holdings to capitalize on the fast-growing altcoin market.

Specifically, Edward disclosed initiating a fresh XRP position at the $0.55 mark. The focal point of his disclosure was establishing a limit sell order for the XRP position at $1.35.

In particular, the action signals his firm belief that XRP will soon surpass the $1 threshold.

Liquidity to Flow to XRP

Edward’s optimism stems from his observation that liquidity appears to be shifting from Bitcoin to altcoins.

Notably, Bitcoin’s’ insane rallies breaking 2021 highs have encountered slight resistance, with the asset trading below $64k, having claimed the threshold two days ago. Essentially, Bitcoin now appears to be consolidating around the $62k mark. 

Through its brief stabilizing periods, the altcoin market has moved to steal the spotlight from Bitcoin, with many tokens printing more significant growth rates than BTC.

Considering the trend, Edward expressed confidence that the XRP’s’ turn for a bullish rally was approaching.

Interestingly, CoinMarketCap statistics show that XRP has reached a height of $0.6244 within the last 24 hours. This reflects a 13% gain from Edward’s $0.55 entry point, confirming his conviction in XRP’s rally.

Meanwhile, the XRP figure disclosed setting stop-loss at strategic positions to mitigate losses in a scenario where his bullish forecast potentially meets resistance.

Besides, Edward cautioned XRP enthusiasts against initiating leveraged positions due to the magnified risk associated. “You can make money swing trading; [you] don’t have to use leverage,” he warned.

Reacting to his disclosure, an X user endorsed the move, noting that his $1.35 is optimal. “This is where the money is for most,” they remarked.

Additionally, the commenter challenged the views of those aiming for loftier highs, such as $10, implying that such targets are unrealistic. “Small victories add up, too,” the commenter submitted.