Memecoins
1.75 trillion SHIB mysteriously seized on Robinhood with price on the verge of breaking
Yuri Molchan
Incredible Amount of SHIB Coins Acquired on Popular Investment Platform by Anonymous Whale
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Whale Alert, a prominent blockchain detective, which tracks large cryptocurrency transfers, has made nearly two trillion dollars known. Shiba Inu meme parts leave Robinhood for an unknown wallet.
Two staggering SHIB pieces were seized from the popular investment platform and removed around eight hours ago. In the meantime, SHIB is eyeing a bullish breakout, according to a popular analyst. Meanwhile, almost two billion SHIBs were burned in April – mostly by mistake.
1.75 Trillion SHIB Purchased as Coin Eyes Pop
The aforementioned source said that in the last eight hours, the mysterious wallet -4D935 has collected two huge chunks containing 875,000,000,000 SHIB each. This represents 1.75 trillion SHIB meme coins in total, valued at $39.2 billion at the time the transactions were made.
Meanwhile, popular cryptocurrency trader and analyst Ali Martinez tweeted on Wednesday that he had spotted the second largest coin, SHIB, forming a bull flag on the daily trading chart.
He predicts that SHIB aims to carry out a major project bullish breakout at $0.000072323 level and places a few buy orders around $0.000018343.
In the last 24 hours, SHIB attempted to jump over 9%, reaching $0.00002314. However, a subsequent decline brought it down to $0.000002182, a decline of 5.68%.
1.6 billion SHIBs burned last month, here is the nuance
According to a recent tweet posted by Explorer Shibburn, in April the Shiba Inu community did an impressive job of reducing the total supply of SHIB in circulation by burning a whopping 1,695,717,536 SHIB.
This feat was achieved through 204 transactions that locked all of these meme coins into unusable blockchain wallets. However, Shibburn clarified that all of these burns were not entirely usual. All of these tokens were lost forever because investors sent them to the contract address by mistake.
These people lost their investment, Shibburn pointed out in the tweet, urging the cryptocurrency community to be vigilant and double-check destination wallets before making transactions.
As for daily new burns, over the past 24 hours, the SHIB Army has been unable to keep the SHIB burn rate in the green (-11.80%), with 2,027,495 meme coins destroyed .
About the Author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to transform the world in the future in many aspects. He has written for several crypto media outlets. His articles have been cited by crypto influencers such as Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.