Shiba Inu Sinks As Whale Pockets 445,868,091,840 Tokens

A notable transaction involving Shiba Inu [SHIB] has garnered significant attention within the crypto-verse. A whale acquired 445,868,091,840 SHIB tokens from a Robinhood wallet. This substantial purchase occurred during a broader market correction, emphasizing the persistent volatility and speculative interest in this meme-based cryptocurrency.

At press time, SHIB was experiencing a rejection at the $0.00003 price level, trading at $0.00002639. This represents a 4.91% daily drop in the past 24 hours. SHIB’s market capitalization is now approximately $15.47 billion, with its trading volume dropping by more than 38% to $1.49 billion.

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Impact on Shiba Inu Bulls

The market downturn has significantly impacted SHIB bulls. Data from CoinGlass revealed that long traders have faced major liquidations. This came up to a total of $1.7 million. In comparison, short traders recorded a smaller liquidation amount of $255,590. This difference highlights the increased risk and volatility associated with bullish positions in the current market environment.

Transaction Details

Amidst this, Whale Alert, a leading market tracking resource, first reported the significant movement of SHIB funds. The transaction involved exactly 445,868,091,840 SHIB tokens valued at around $12.171 million. The average price during the transfer was $0.00002729. The sending address is associated with Robinhood, a prominent trading platform offering commission-free services. The identity of the receiving address remains unknown, however, it now holds 527.3 billion SHIB. This is valued at $14.68 million at current prices.