Whale Alert, the automated market tracker, has documented a significant outflow of Shiba Inu tokens from Robinhood, the renowned American exchange. On May 1, at 10:48 PM (UTC), 875 billion Shiba Inu tokens valued at over $19.67 million left Robinhood for an anonymous wallet.
Within a minute, a similar quantity of SHIB tokens was transferred from Robinhood to an unknown wallet. Remarkably, the 875 billion Shiba Inu tokens found their new home in the same anonymous wallet, “0x73af3bcf.” In total, this whale has withdrawn a staggering 1.75 trillion SHIB tokens from Robinhood, amounting to a value of $39,346,292.
Continuous Accumulation by the Shiba Inu Whale
At press time, data from Etherscan indicates that the recipient wallet still retains the withdrawn SHIB tokens. Moreover, the wallet has been on an accumulation spree for weeks. Throughout April, it received various digital assets such as AERO, LIBRA, and LINK from other exchanges such as Uniswap.
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Before the latest 1.75 trillion Shiba Inu inflow from Robinhood, the whale had sent 3 trillion SHIB tokens to the exchange on April 24. Meanwhile, five days earlier, the wallet sent 4 trillion SHIB to Robinhood after several influxes of Shiba Inu tokens from the exchange.
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Overall, this address under scrutiny has sent 8.7 trillion SHIB tokens over the last 30 days to “Robinhood 2,” although it took a more staggering inflow through the same period. At the time of this report, the whale wallet retained over 5.88 trillion Shiba Inu tokens, valued at $128,072,631.
Evidence of Association with Robinhood
Significantly, most transactions involving Shiba Inu tokens within wallet “0x73af3bcf” have originated from and been sent to the Robinhood wallet. Coupled with its substantial SHIB holdings, this pattern strongly implies an association between wallet “0x73af3bcf” and Robinhood.
Whale Alert has also documented staggering inflows from trading platforms CryptoCom and Wintermute to anonymous wallets in April. SHIB accumulated from these two platforms amounted to over 1.154 trillion in the last 30 days. These accumulation frenzies have continued despite Shiba Inu crashing by over 20% in the last month. At press time, SHIB trades at $0.00002182 with barely a 1% gain in the last 24 hours.
