{"id":330511,"date":"2024-06-11T12:35:02","date_gmt":"2024-06-11T11:35:02","guid":{"rendered":"https:\/\/coinfomania.com\/?p=330511"},"modified":"2024-06-11T13:36:33","modified_gmt":"2024-06-11T12:36:33","slug":"shiba-inu-whale-accumulates-600-billion-tokens-amid-price-crash","status":"publish","type":"post","link":"https:\/\/coinfomania.com\/shiba-inu-whale-accumulates-600-billion-tokens-amid-price-crash\/","title":{"rendered":"Shiba Inu Whale Accumulates 600 Billion Tokens Amid Price Crash"},"content":{"rendered":"\n<p>A large transaction involving Shiba Inu has caught the attention of the crypto community as an unknown whale shifts a staggering 600 billion SHIB tokens from a popular <strong><a href=\"https:\/\/coinfomania.com\/centralized-exchanges-see-3-billion-eth-outflow-post-ether-etf-approval\/\">centralized exchange<\/a><\/strong>. This major transaction has raised speculations about the intent and possible impact on the price of the coin even though its value has dropped significantly over the last day.<\/p>\n\n\n\n<p>Against the backdrop of the <strong><a href=\"https:\/\/coinfomania.com\/investors-turn-to-this-new-vr-token-amid-global-crypto-market-rally-seeking-for-10x-roi\/\">global crypto market<\/a><\/strong> downtrend, some large investors are seizing the opportunity to buy in on their favorite tokens at cheaper rates with hopes of a future price upswing to generate profits. Let us look at this transaction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-600-billion-shib-tokens-leave-robinhood-exchange\">600 Billion SHIB Tokens Leave Robinhood Exchange<\/h2>\n\n\n\n<p>Whale Alert, a prominent large crypto transaction tracker, spotted the transaction earlier today and <a href=\"https:\/\/x.com\/whale_alert\/status\/1800262903372697878\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">reported<\/a> it on X (formerly Twitter). According to the update, the whale transferred a mouthwatering 600 billion SHIB tokens from the California-based centralized exchange <strong><a href=\"https:\/\/coinfomania.com\/robinhood-acquires-bitstamp-a-push-for-us-institutional-crypto\/\">Robinhood<\/a><\/strong> to a wallet labeled &#8216;unknown.&#8217;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\ud83d\udea8  600,000,000,000 <a href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&amp;ref_src=twsrc%5Etfw\">#SHIB<\/a> (13,713,299 USD) transferred from <a href=\"https:\/\/twitter.com\/hashtag\/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw\">#Robinhood<\/a> to unknown wallet<a href=\"https:\/\/t.co\/9jSpBh0IQ1\">https:\/\/t.co\/9jSpBh0IQ1<\/a><\/p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1800262903372697878?ref_src=twsrc%5Etfw\">June 10, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The massive transfer which was valued at about $13.7 million was purchased at an average price of $0.000022. A transfer of such volume from an exchange to an external wallet often represents accumulation, signifying confidence in the said token. That said, the Shiba Inu community popularly known as the &#8216;<strong><a href=\"https:\/\/coinfomania.com\/shiba-inu-close-to-overtaking-dogecoin\/\">SHIB Army<\/a><\/strong>&#8216; is hopeful for a possible price uptick in response to this significant transaction. Also, Shiba Inu, just like other memecoins, is fueled by hype, so when a notable activity like this takes place, it is likely to affect the value of the asset either way.<\/p>\n\n\n\n<p>Interestingly, this is not the first time this whale has traded Shiba Inu. In a recent update, the whale was observed to have sent 3 trillion tokens to the same Robinhood exchange at the time when the coin was trading around the $0.000025 mark. This could mean that the whale previously sold to cash in on gains and now has entered the market with the 600 billion acquisition.<\/p>\n\n\n\n<p>Another factor that could impact the price of SHIB is its burning mechanism. According to a previous report by Coinfomania, the <a href=\"https:\/\/coinfomania.com\/shiba-inu-burn-rate-surges-over-68000-what-does-this-mean-for-shib-price\/\">Shiba Inu burning rate<\/a> skyrocketed by over 68,000%, destroying over 7 million tokens in 24 hours. This could be a key driving force for a major price action in the future.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-shiba-inu-shib-price-movements\">Shiba Inu (SHIB) Price Movements<\/h2>\n\n\n\n<p>Shiba Inu has joined the global crypto market in a downtrend. A close look at the data provided by CoinMarketCap reveals its price movement over the last 24 hours. According to the update, SHIB is currently changing hands at <strong>$0.00002215<\/strong> which represents a 4.41% drop within the recorded time.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"406\" src=\"https:\/\/coinfomania.com\/wp-content\/uploads\/shiba-inu-price-chart-1-1024x406.png\" alt=\"\" class=\"wp-image-330519\"\/><\/figure>\n\n\n\n<p>Interestingly, even though the price has experienced a decline, its trading volume over the last day has taken the opposite direction, surging by 21% to rest at $581.3 million. During this time, SHIB has traded between the range of $0.00002213&nbsp;and&nbsp;$0.00002358 which is still 74.3% below its all-time high of $0.00008616 reached on October 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A large transaction involving Shiba Inu has caught the attention of the crypto community as an unknown whale shifts a [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":330534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1815],"tags":[1599,2111,1968,2373,2372],"ppma_author":[1760],"class_list":["post-330511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-shibainu-news","tag-shiba-inu","tag-shiba-inu-price","tag-shiba-inu-whale","tag-shiba-inu-whale-accumulates-600-billion-tokens","tag-shiba-inu-whale-accumulates-600-billion-tokens-amid-price-crash"],"acf":[],"authors":[{"term_id":1760,"user_id":50,"is_guest":0,"slug":"victorcoin","display_name":"Victor Swaezy","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/dbfd15c6c9b0ca03fc763f47f4d13fc1?s=96&r=g","first_name":"Victor","twitter":"https:\/\/twitter.com\/swaezy_victor","instagram":"https:\/\/www.instagram.com\/vic_swaezy\/","linkedin":"https:\/\/www.linkedin.com\/in\/victor-igbor\/","user_url":"","last_name":"Swaezy","facebook":"https:\/\/www.facebook.com\/igborvictorn\/","description":"Victor Nnamdi Igbor \"Swaezy\" is a crypto enthusiast and writer with over 8 blogging experience. He is an easy person and when not working, loves to have a good time."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/330511"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=330511"}],"version-history":[{"count":4,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/330511\/revisions"}],"predecessor-version":[{"id":330633,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/330511\/revisions\/330633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/330534"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=330511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=330511"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=330511"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=330511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}