Robinhood Dives Deep into Shiba Frenzy, Acquiring 230 Billion SHIB in a 24-Hour Spree – Unveiling the Details

Shiba Inu (1)

Last Updated on 1 month by cryptoevent

On the widely-utilized Robinhood trading platform, Shiba Inu, often dubbed the “Dogecoin slayer,” has ignited a wave of excitement within the cryptocurrency sphere. In a surprising twist of events, Robinhood has accumulated an impressive 231 billion tokens in just 24 hours, boldly asserting its presence in the crypto domain.

This surge in popularity, as per the analysis of crypto enthusiast Lola, has propelled SHIB to the coveted third position on Robinhood’s crypto leaderboard, leaving established players such as Litecoin and XRP trailing in its wake.

Robinhood Continues to Load Up on SHIB

The allure of Shiba is not confined to the Robinhood platform alone. According to insights from the crypto intelligence firm Arkham, in line with Lola’s findings, Robinhood’s SHIB holdings have surged significantly to a staggering 36.684 trillion tokens, valued at approximately $350 million.

This data, combined with information from IntoTheBlock, depicts a vivid scenario of a Shiba stampede reshaping the crypto landscape.

Whales, the apex predators in the vast ocean of cryptocurrencies, appear to be enamored with the meme coin. IntoTheBlock’s metric tracking “Large Holders Netflow” has registered a remarkable spike of 1,542%, indicating a substantial accumulation of SHIB by these influential market players.

Whale Appetite Reaches New Heights

This whale enthusiasm manifests in a remarkable 181% surge in “Large Holder Inflow” and a staggering 551% increase in the “Whale Activity Index.” The collective movement of these whales resembles a synchronized swimming routine of the crypto elite, all with their synchronized wallets directed towards SHIB.

The feeding frenzy intensifies with the emergence of a new Shiba whale, devouring a substantial 1.44 trillion tokens.

The Robinhood-Shiba alliance and the coordinated dance of the whales hint at a potential surge for the canine coin. However, the sustainability of this upward trajectory remains uncertain.

Backed by Robinhood, Arkham, and the formidable whales, Shiba Inu is no longer merely chasing Dogecoin’s tail. It is emphatically establishing its presence in the crypto landscape, capturing the attention of the global audience.

Will Shiba Inu sustain its upward momentum? Only time will unveil the answer. Nonetheless, in the unpredictable realm of crypto, this underdog has unquestionably earned its seat at the table and is unafraid to showcase its potential for growth and tackle challenges head-on.