Whale Wallet Moves 3 Trillion SHIB Tokens, Here’s Why

According to crypto analysis platform Whale Alert, 3 trillion Shiba Inu (SHIB) tokens were moved from one unknown wallet to another. The transfer was made in a single transaction and was the second largest single transfer since last week. The value of the assets transferred is approximately $82.4 million. Given the scale of the transfer, the SHIB community was divided on the identity of the wallet owner.

Also read: Shiba Inu vs. Dogecoin: Which meme coin should you buy for 10x returns?

Although Whale Alert did not reveal the name of the wallet owner, data from Etherscan.io shows that crypto exchange Robinhood is partnering with the recipient wallet. Additionally, Robinhood has also partnered with wallets that have sent 3 trillion tokens. The exchange may be reorganizing its holdings.

sauce: ether scan io

Will Shiba Inu (SHIB) reach an all-time high soon?

Shiba Inu Shibu EclipseShiba Inu Shibu Eclipse
Source: Twitter

Shiba Inu (SHIB) is currently down 68.6% from its all-time high of $0.00008616 set in October 2021. But the popular dog-themed cryptocurrency may soon regain its 2021 peak.

According to CoinCodex, SHIB could reach new highs next month. The platform predicts that SHIB will reach $0.00009149 on May 22, 2024. Reaching $0.00009149 from current levels would represent a growth of approximately 233%.

sauce: coin codex

Changely It also paints a bullish outlook for Shiba Inu (SHIB) in the coming weeks. The platform predicts that SHIB will reach an all-time high of $0.00009201 on May 20, 2024. Nevertheless, Changelly expects a price correction later this year.

Also read: Shiba Inu price predicted to reach 1 rupee 46 paisa in India: When

SHIB’s bullish outlook could be due to Bitcoin (BTC)’s recent halving. Many analysts expect Bitcoin to hit a new all-time high in May. If BTC reaches a new high, it could lead to a rally in the overall market, and other assets could reach new highs as well.

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