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Shiba Inu Whale Shifts 1.25 Trillion SHIB Amid Market Volatility, Here’s The Destination
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Shiba Inu Whale Shifts 1.25 Trillion SHIB Amid Market Volatility, Here’s The Destination

Scott Matherson
Scott Matherson
1 year ago
4 mins read
Shiba Inu

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SHIB’s recent price movement has been nothing but explosive. As of late, Shiba Inu has established itself as a leading performer in the cryptocurrency market, performing as high as 300% in a seven day timeframe. 

Interestingly, a large SHIB transaction seems to have caught the eye of investors. According to whale transaction tracker Whale_Alerts, 1.25 trillion SHIB tokens worth $51.3 million were sent into an unknown wallet. On further investigation into on-chain data, it was determined that the recipient wallet is a Robinhood-linked wallet address. 

Whale Shifts 1.25 Trillion SHIB

Shiba Inu’s ecosystem is home to many whale investors, and transactions among these whales are not uncommon. According to on-chain data from IntoTheBlock, whale transactions greater than $100,000 have been increasing in the past few days. As a result, the number of transactions from this cohort spiked to 3,848 on March 5 as compared to 2,222 on March 4 and 845 on March 3. Furthermore, data from the on-chain analytics platforms shows that the total value of transactions greater than $100,000 has now reached $5.77 billion in the past seven days.

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One of the most significant transfers during this timeframe that was reported by Whale_Alerts is the transfer of 1.25 trillion SHIB tokens from crypto exchange Cumberland into a wallet linked to Robinhood. While the identity of the individuals involved in the transfer is unknown, the whale transfer appears to have generated interest from SHIB investors as it comes amid extreme market volatility. Possible explanations include profit taking from a whale or an institutional investor buying SHIB.

🚨 🚨 1,250,318,249,876 #SHIB (41,329,269 USD) transferred from #Cumberland to unknown wallethttps://t.co/i7SYyYui4K

— Whale Alert (@whale_alert) March 4, 2024

Notably, another recent SHIB transaction alert from the whale tracker indicates a similar transfer of 167 billion SHIB tokens from Wintermute, a crypto algorithmic trading firm to crypto exchange Binance. At the time of transfer, the SHIB tokens were worth $5.28 million. 

🚨 167,809,919,988 #SHIB (5,286,935 USD) transferred from #Wintermute to #Binancehttps://t.co/aU8tNgMsxB

— Whale Alert (@whale_alert) March 5, 2024

Shiba Inu To Keep Soaring?

SHIB broke above the $0.00004 mark twice in the past 24 hours. However, it has since corrected a 7.5% and is now trading at $0.000035. Nevertheless, the cryptocurrency is still up by 230% in the past seven days and 304% in the past 30 days.

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The Ethereum Foundation Is Selling ETH Again, Is The Top In?

1 year ago

The recent price surge has caused Shiba Inu to move up to 10th place in terms of market cap rankings. More holders have also turned a profit, with 73% of wallet addresses now making money. 11% of addresses are at break even, while 17% are still at a loss. 

More holders are set to move into profit if Shiba Inu resumes its price increase. The first step would be to cross over the $0.000045 mark. Activity on Shiba Inu’s layer-2 network Shibarium also points to continued price growth. 

The recent price surge has seen Shibarium witnessing an increase in the number of active accounts. Data shows daily active accounts reached 1,896 on March 4 and 1,227 on March 5 after spending the majority of February below 1,000.

Shiba Inu price chart from Tradingview.com

SHIB price at $0.0000339 | Source: SHIBUSD on Tradingview.com
Featured image from FXLeaders, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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