Is Robinhood buying bag loads of Shiba Inu? A mysterious and unidentified Shiba Inu whale purchased a whopping 8.1 trillion Shiba Inu coins worth a staggering $290 million. The mammoth amounts of purchase hint that an individual investor would not place his/her hands on such large volumes. The $290 million is an enormous amount and could only possibly be an exchange platform or a business entity.
WhaleStats was the first to reveal the humongous SHIB transaction and tweeted, “Woof! Woof! New #SHIB whale was born!!! Holds 8,108,189,881,576 $SHIB ($290,244,320 USD) Transactions. Welcome to the #ShibArmy Family!” and their tweet ended with the million dollar question on everyone’s mind, “@RobinhoodApp Is it you?”
There is considerable weight to their question as only an exchange platform could have the strength to purchase SHIB worth $290 million. Also, a mammoth 8.1 trillion coins would be hard for an individual to move around. Nonetheless, it is easier for a trading exchange to handle such large transactions.
In addition, the whale in question purchased 8.1 trillion Shiba Inu tokens in three different transactions. While the first was completed on Wednesday, the other two transactions was done on Thursday.
Reports are doing the rounds that Robinhood could be loading bags of SHIB to their portfolio as a listing could be on its way. Robinhood could be taking an early entry position before listing and reap in profits after getting SHIB on board.
Shiba Inu could propel in price after Robinhood listing and even knock out a zero or two in a weeks time. Above all, Robinhood listing will open the floodgates to new investors and make Shiba Inu trading volume spike to new highs.
The $290 million purchase is more than what meets the eye and should scratch the surface to see what’s more in store.
Whales Love Shiba Inu
Since the last week of July, whales have been making an entry in Shiba Inu by purchasing billions and trillions of tokens. Moreover, there’s news about a whale purchase almost everyday and tops the charts among the ETH rich list. Shiba Inu was the most sought-after token in the whale community for two months in a row between October and November.
The heavy buying among the whale community indicates that something big is on the cards and they’ve taken an early entry position. At the time of publishing, Shiba Inu was trading at $0.00003492 and is down -4.45% in the 24-hours day trade.