An unidentified wallet has withdrawn a massive amount of Shiba Inu tokens from the Robinhood exchange, taking advantage of the dip in SHIB prices. Whale Alert, an automated market tracker, recently recorded a significant outflow of Shiba Inu tokens from the well-known American exchange Robinhood. On May 1 at 10:48 PM (UTC), 875 billion Shiba Inu tokens, valued at over $19.67 million, were transferred from Robinhood to an anonymous wallet. Surprisingly, within a minute of this transaction, an equal amount of SHIB tokens was moved from Robinhood to an unknown wallet. The 875 billion Shiba Inu tokens found their new home in the same anonymous wallet “0x73af3bcf.” In total, this whale has withdrawn a staggering 1.75 trillion SHIB tokens from Robinhood, which is worth $39,346,292. The recipient wallet, according to data from Etherscan, still holds the withdrawn SHIB tokens. Furthermore, the wallet has been accumulating various digital assets, such as AERO, LIBRA, and LINK, from other exchanges like Uniswap throughout the month of April. Before the latest influx of 1.75 trillion Shiba Inu tokens from Robinhood, the whale had sent 3 trillion SHIB tokens to the exchange on April 24. Additionally, five days earlier, the wallet sent 4 trillion SHIB to Robinhood after receiving multiple inflows of Shiba Inu tokens from the exchange. Overall, this scrutinized address has sent 8.7 trillion SHIB tokens to “Robinhood 2” in the last 30 days, despite receiving an even larger amount during the same period. As of now, the whale wallet holds over 5.88 trillion Shiba Inu tokens, valued at $128,072,631. Interestingly, most transactions involving Shiba Inu tokens within the wallet “0x73af3bcf” have originated from and been sent to the Robinhood wallet, indicating a strong association between the two. Whale Alert has also documented significant inflows from trading platforms CryptoCom and Wintermute to anonymous wallets in April, with a total accumulation of over 1.154 trillion Shiba Inu tokens in the past 30 days. These accumulation frenzies have persisted despite Shiba Inu experiencing a crash of over 20% in the last month. At the moment, SHIB trades at $0.00002182, showing a minimal 1% gain in the last 24 hours. Please note that this content is for informational purposes only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses incurred.
