Crypto tracking platform Whale Alert has seen impressive growth in the last 24 hours. Shiba Inu (SHIB) recorded the transaction. 3 trillion SHIB tokens worth approximately $50 million transferred from an unknown wallet to Robinhood’s address was done.
🚨 🚨 3,023,255,579,400 #SHIB (49,933,096 USD) transferred from unknown wallet to unknown wallethttps://t.co/3D24M928iE
NEWS CONTINUES BELOW— Whale Alert (@whale_alert) March 1, 2024
“SHIB 3,023,255,579,400 ($49,933,096) was transferred from an unknown wallet to an unknown wallet,” Whale Alert reported. Robinhood’s purchase of SHIB comes as the token has surged over 70% in the last 24 hours. SHIB, which reached the $0.00002888 level earlier today, is ahead of other major cryptocurrency It performed better than its currencies, Bitcoin, Ethereum and Dogecoin. Additionally, it rose to 11th place in the market capitalization rankings, reaching a value of over $12.8 billion.
At the time of writing this news, SHIB increased by 62.20% in the last 24 hours to $0.00002149. According to Coingecko data, meme coin It’s currently up 129%, poised for its best weekly close since October 2021.
While the value of the Shiba Inu increased by nearly 70% in the last 24 hours, on-chain analysis platform Spot On Chain reported on-chain events over the last three days, triggering the price increase. According to the analysis, it highlights three events that could contribute to SHIB’s price increase. First, a “smart investor” purchased 75.91 billion SHIB from Binance two days before the rise, currently worth $1.51 million. This investor made over $614,000 in profits from his Shiba Inu purchase.
Secondly, MakerDAO co-founder Rune was reported to have purchased 7.41 billion SHIB with 100,000 USDC for the first time, making approximately $47.1 billion in this transaction. Thirdly, it was stated that a wallet named UPbit accumulated 2.13 trillion SHIB worth $42.3 million in the last 24 hours. Currently, this wallet is the seventh largest SHIB wallet with 12.45 trillion SHIB worth $247 million.
