Shiba Inu (SHIB) is undoubtedly popular among whales. It’s one of the reasons why many retail investors fear of buying into the project. A sell-off of the whales would cause a massive drop in the price of the token. Nevertheless, whales continue to dominate SHIB holdings. According to Whale Alert, a Shiba Inu (SHIB) whale recently moved 3.3 trillion tokens from an unknown wallet. The transferred SHIB is worth an eye-popping $38 million.
The sender’s wallet currently has no SHIB balance. However, the sending wallet received approximately the same amount of SHIB from another unknown wallet 14 days earlier. The 3.3 trillion SHIB is still in the mystery wallet that received it.
The movement of the tokens comes as SHIB’s layer-2 network, Shibarium, is preparing for launch. Many expect the launch to push the price of Shiba Inu up new heights. The whale may be preparing for the Shibarium launch and could take position based on how the release unfolds.
Additionally, Shiba Inu (SHIB) continues to be a favorite among Ethereum (ETH) whales and makes up over 15% of the top 100 ETH whale holdings. The top 100 ETH whales have almost half a billion dollars worth of SHIB tokens.
In addition, SHIB recaptured 13th place among the top cryptocurrency projects by market capitalization. SHIB displaced Litecoin (LTC), which had previously surpassed SHIB in the rankings.
Coinbase Director shares Robinhood’s Shiba Inu holdings
Coinbase CEO Conor Grogan says popular cryptocurrency exchange Robinhood holds $266 million in SHIB tokens. According to Grogan’s claims, SHIB makes up 8% of Robinhood’s holdings, after Ethereum (ETH), which makes up 88%, worth $2.99 billion.
Additionally, Robinhood stated earlier this month that SHIB would be joining the list of coins its Web3 wallet would accept, along with Solana (SOL), Polygon (MATIC), and Compound (COMP).
At the time of the press, Shiba Inu was trade at $0.00001154, down 0.3% in the past 24 hours.