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

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.

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.