A popular meme coin recently added to the Robinhood list is now being hoarded by whales, according to data from IntoTheBlock.
Whale transactions increase 508%
Shiba Inu whales have been on their toes in the last 24 hours, with a 508% increase in large transactions, according to IntoTheBlock data. Large transaction spikes are often associated with increased activity from institutional players or whales buying or selling. According to IntoTheBlock, these transactions exceed $100,000 moved.
Anonymous whales bought billions of Shiba Inu on the news of the Robinhood listing, which led to a massive increase in the number of large transactions and positive price action. In the past 24 hours, two major Shiba Inu purchases have been reported by WhaleStats.
In the last hours, the 21st largest ETH whale “Bombur”, He added nearly 216 billion SHIB to his wallet in three transactions. The first transaction consisted of 79,228,162,513 SHIB or $2,171,643, the second transaction was valued at 58,942,040,942 SHIB or $1,615.601, and the third transaction paid $2,171,643 for 79,228,162,513 SHIB.
Meme coin is bought by whales by the billions
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Before that, he had purchased the ETH whale “BlueWhale0073” worth 775,473,150,952 SHIB or $20,697,378. Yesterday, the largest whale on the Ethereum network with a record-breaking amount of Shiba bought a decent amount of tokens worth $6 million. In addition to a whale named “Light”, other major investors were actively buying the token prior to listing.
IntoTheblock analytics team reports a 57% increase in the balance of SHIB addresses since March:
SHIB investors were unaffected in the past weeks and continue to accumulate and It pays off with today’s Robinhood announcement. Addresses holding SHIB for more than 1 year increased their balance by 57% in just 30 days. They now hold 2.82% of the supply.
As we have reported as Kriptokoin.com, the Shiba Inu team has officially announced the launch of SHIB: Metaverse land NFTs. A Twitter user dedicated to the Shiba Inu community recently shared details on a new utility for SHIB at SHIB: Metaverse when the offer event kicks off. SHIB will be used to add images and logos to plots. This feature flashes SHIB every time pictures are changed.
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