Recently, three fresh wallets have collected a significant amount of 184 billion Shiba Inu tokens from renowned trading platforms Binance and Coinbase. These wallets garnered attention from the crypto surveillance X account, “The Data Nerd,” which highlighted the movement of the tokens over the past two days.
Movement of Tokens from Exchanges
The Data Nerd highlighted that approximately $4.9 million worth of Shiba Inu tokens had shifted from Binance and Coinbase to these new wallets. Specifically, the SHIB tokens transferred within the last 48 hours.
Analysis of on-chain data reveals that these three wallets had no prior transaction history before accumulating the Shiba Inu tokens. The oldest transaction occurred about 31 hours ago, involving the wallet with the initials “0x6dFEF96E” receiving tokens from Coinbase.
Another wallet, “0xf77013F8,” received tokens from Binance precisely 24 hours ago. The third wallet, “0x59132e96,” received its tokens as early as 11 hours ago. Notably, all three wallets accumulated a total of 183,989,266,898 SHIB tokens from exchanges.
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Market Conditions and Movements
Despite a recent 9% decline in SHIB’s value, these movements suggest an accumulation frenzy among Shiba Inu investors during the dip. At present, Shiba Inu is witnessing a 2.58% gain over the past day.
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While smaller wallets were moving their assets off centralized platforms, larger Shiba Inu whales transferred their tokens to Robinhood. This transfer occurred amidst a price crash, with Robinhood receiving an influx of approximately one trillion SHIB on April 1.
Subsequently, Robinhood received an additional 384 billion SHIB tokens, only to drain 999.7 billion SHIB later. The funds were directed to an anonymous wallet, which now holds an impressive SHIB portfolio of 6.64 trillion.
