The accumulation of Shiba Inu Whale has reached 332 billion SHIB tokens
According to online data, more than 332 billion SHIB tokens have been transferred to the wallet of Cumberland trading company, associated with the Robinhood cryptocurrency trading platform. Although the purpose of this transaction remains unclear, additional data from Etherscan shows that the Robinhood-linked wallet has been actively accumulating SHIB over the past few days.
In addition to this large transaction of 332 billion SHIB, millions of other SHIB tokens have also entered the wallet. It is assumed that the trading platform noticed the increased interest in the meme coin from its users and decided to increase its stocks of SHIB. Data from Arkham Intelligence indicates that Robinhood owns almost 40 trillion SHIB tokens.
However, Robinhood, apparently, is not the only platform on which active SHIB trading takes place. The data on the network also shows that the cryptocurrency exchange Crypto.com SHIB has significantly increased its stocks in the last 24 hours. It is noticeable that there was a replenishment in the amount of 2 trillion SHIB tokens sent from one hot wallet of the cryptocurrency exchange to another.
A recent NewsBTC report also reports that the number of new SHIB addresses is increasing 20 times daily compared to the February average. This explains the growth of SHIB trading on these platforms.
This sudden surge in interest in SHIB is likely due to the sharp rise in the price of meme coins this month, as investors seek to benefit from future price changes.
According to cryptanalyst Ali Martinez, the price of SHIB may reach $0.000052. In addition, he notes the recovery of the support level at $ 0.000033, which is considered critical. The bull's mindset towards SHIB is supported by the fact that meme coins are becoming one of the key assets in the current bull cycle.
Another cryptanalyst, Mikael van de Poppe, notes that altcoins, including SHIB, are still not rated high enough, which means the potential for further growth. He predicts that these crypto tokens may reach their historical maximum or approach it during the next rally.
At the time of writing, according to CoinMarketCap, SHIB is trading at $0.00003256, which is an increase over the past 24 hours.
