Shiba

Dogecoin

Shiba Inu

Billion

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p lang="en-GB" xml:lang="en-GB">Popular cryptocurrency tracker Whale Alert, which tracks down large crypto transfers, has spread the word about several hundred billion <a href="https://u.today/critical-shib-warning-to-fudders-issued-by-shiba-inu-team" rel="noopener noreferrer nofollow">SHIB meme coins</a> getting withdrawn from major trading platform Robinhood. The destination of this transfer is an anonymous wallet.</p>
<p lang="en-GB" xml:lang="en-GB">Aside from this massive SHIB transfer, Whale Alert also spotted two other large meme crypto transactions, as 326 million Dogecoin were moved from the same platform.</p>
<h2 id="600-billion-shib-and-326-million-doge-on-move">600 billion SHIB and 326 million DOGE on move</h2>
<p lang="en-GB" xml:lang="en-GB">The enormous transfer of more than half a trillion Shiba Inu meme coins was detected by the aforementioned data source approximately 13 hours ago. In fiat, this constitutes an equivalent of $13,713,299. The transaction was made to a blockchain wallet tagged by Whale Alert as unknown.</p>
<p lang="en-GB" xml:lang="en-GB">This transaction was made between two large transfers of another popular meme cryptocurrency – Dogecoin: 200,000,000 and 126,705,738 DOGE (almost 327 million DOGE in total), valued at $28,790,166 and $18,431,371.</p>
<blockquote>
 <p lang="en" dir="ltr">🚨 600,000,000,000 <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> (13,713,299 USD) transferred from <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Robinhood</a> to unknown wallet<a href="https://t.co/9jSpBh0IQ1" rel="noopener noreferrer nofollow">https://t.co/9jSpBh0IQ1</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1800262903372697878?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">Overall, SHIB whales’ activity has seen a drastic increase as of late; as reported by U.Today, over the past week, a <a href="https://u.today/17-trillion-shiba-inu-shib-in-7-days-whats-happening" rel="noopener noreferrer nofollow">staggering 17 trillion SHIB</a> have been transferred, according to data shared by IntoTheBlock.</p>
<blockquote>
 <p lang="en" dir="ltr">🚨 🚨 200,000,000 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DOGE</a> (28,790,166 USD) transferred from <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Robinhood</a> to unknown wallet<a href="https://t.co/vkE6kqwdcI" rel="noopener noreferrer nofollow">https://t.co/vkE6kqwdcI</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1800264421622563146?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 10, 2024</a>
</blockquote>
<p lang="en-GB" xml:lang="en-GB">Still, a deeper look at all three of these transactions made from Robinhood show that the three meme coin lumps ended up nowhere but back on Robinhood, with the destination wallets belong to this trading venue, indicating that Robinhood has been reshuffling its SHIB and DOGE holdings.</p>
<h2 id="key-shib-metric-soars-2-814">Key SHIB metric soars 2,814%</h2>
<p lang="en-GB" xml:lang="en-GB">According to the Shibburn explorer, since yesterday morning, the SHIB community has made significant progress in reducing the SHIB circulating supply. Their joint efforts in burning SHIB have helped to raise the <a href="https://www.shibburn.com/" rel="noopener noreferrer nofollow">burn rate by 2,814%</a>, sending a total of 7,912,388 Shiba Inu meme coins into unspendable blockchain addresses.</p>
<p lang="en-GB" xml:lang="en-GB">There have been seven burn transfers overall so far, with the three largest ones carrying 4,320,587; 1,538,128 and 1,031,814 SHIB. The small burn transfer here constituted 5,683 SHIB.</p>
<h2 id="bearish-shib-price-performance">Bearish SHIB price performance</h2>
<p lang="en-GB" xml:lang="en-GB">Over the period of the last 24 hours, the second largest meme cryptocurrency by market capitalization size has shown negative market performance as <a href="https://www.tradingview.com/symbols/SHIBUSDT/" rel="noopener noreferrer nofollow">it declined by 5.5%</a>, falling to the $0.00002218 price mark.</p>
<p lang="en-GB" xml:lang="en-GB">This price fall coincided with a similar move bybBitcoin as it plunged by nearly 4% in the past 24 hours, losing the $70,000 level and plummeting to $66,997.</p>

600 Billion SHIB Mysteriously Kicked off Robinhood – What's Happening?

Table of Contents

U_Today

Other articles published on Jun 11, 2024

Fan Tokens Rally as Investors Bet on Soccer Fever

Litepips by Avenix Fzco: Unleashing the Power of Intelligent Gold Trading on MetaTrader 4

BlackRock’s Move into RWA Signals Potential 100x Returns: Here Are the Top 8 Cryptocurrencies to ...

https://cryptotale.org/base-shatters-8-billion-tvl-milestone-overtakes-optimism-report/

Crypto: Here’s how Apple is destroying AI-linked tokens!

Investors Secure Gold with Paxos Gold (PAXG)

Join our free newsletter for daily crypto updates!