Finance giant Robinhood has made another significant investment in Shiba Inu. According to the crypto exchange Arkham, Robinhood added 231 billion SHIB tokens to its holdings in less than 24 hours.
In her latest X post, Shiba Inu enthusiast Lola explains that while Robinhood is adding to its stash of SHIB, another exchange TradeFi has been loading up on Bitcoin. Compared to Tuesday, Robinhood’s total SHIB went up from 36.454 Trillion to 36.684 Trillion.
Shiba Inu is currently the third-largest crypto asset by dollar value on Robinhood. At press time, Shiba Inu is trading at $0.00000953. The latest swoop of SHIB perhaps signals that whales will begin accumulating Shiba Inu. Based on their investment, Robinhood appears to be bullish on SHIB.
Also Read: Shiba Inu: How High Can SHIB Surge This Week?
On-chain data from IntoTheBlock adds to the narrative of significant whale activity in the SHIB market. In particular, there has been a 1,542% spike in Large Holders. Furthermore, as SHIB is rather low in price, whales and exchanges like Robinhood are getting in while they can before a potential bull run.
For those closely monitoring Shiba Inu’s short-term price movements, according to Changelly, SHIB is anticipated to surge to a high of $0.00001018. This further comes with the surge predicted to occur on Jan. 17, accompanied by a significant 5% increase in value.