Shiba

2024

Shiba Inu

Billion

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According to on-chain data, a colossal sum of 461 billion <a href="https://u.today/shiba-inu-shib-triggers-negative-1146-netflow-spike-implications" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> tokens was transferred from Wintermute, a leading algorithmic trading firm, to a Robinhood-named wallet.
Crypto data tracker <a href="https://twitter.com/whale_alert/status/1774888299896664085" rel="noopener noreferrer nofollow">Whale Alert</a> reports that "461,631,206,896 SHIB worth $13,175,185 was transferred from Wintermute to unknown wallet. Further information revealed by Etherscan indicates the identity of the receiving wallet to be "Robinhood 2."
<blockquote>
 🚨 461,631,206,896 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (13,175,185 USD) transferred from <a href="https://twitter.com/hashtag/Wintermute?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Wintermute</a> to unknown wallet<a href="https://t.co/pFyvok2fOT" rel="noopener noreferrer nofollow">https://t.co/pFyvok2fOT</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1774888299896664085?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 1, 2024</a>
</blockquote>
The timing of the transfer coincides with a broader market dip, with many major cryptocurrencies seeing a decline in value and thus triggering speculation.
It is possible that such a move might be a precursor to greater trading activity or that Robinhood is strategically accumulating in anticipation of future demand. The exact reason for the move, however, remains unknown.<a href="https://u.today/bitcoin-boom-institutions-channel-86-billion-into-crypto-market" rel="noopener noreferrer nofollow">Bitcoin</a> and the majority of crypto assets saw selling pressure on Tuesday, as positive U.S. factory data pushed the dollar index (DXY) to its highest level since mid-November.
Bitcoin dipped to intraday lows of $65,800 as data released on Monday showed that U.S. manufacturing activity unexpectedly increased in March. The probability of a June Fed rate drop fell below 50% following the manufacturing report.
Shiba Inu likewise plunged alongside the general crypto market. At the time of writing, SHIB was down 6.44% in the last 24 hours to $0.0000265, extending its decline from April 1 highs of $0.0000307.
Shiba Inu has been slowly declining since March 28, after reaching highs of $0.00003285. If the falls continue, the daily MA 50 around $0.00002288 may emerge as the next major support for the Shiba Inu price.
On the other hand, if the SHIB price recovers, bulls may look for a break over the $0.00003 and $0.000032 barrier levels to signal a new trend.

461 Billion SHIB Moved to Robinhood Address, What's Happening?

U_Today

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