Robinhood Goes Shiba Crazy, Buys 230 Billion SHIB In 24 Hours – Here’s The Scoop

Christian Encila

1 year ago

4 mins read

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On the widely-used trading platform Robinhood, Shiba Inu, frequently hailed as the “Dogecoin slayer,” has sparked a surge of enthusiasm within the cryptocurrency realm.

In a remarkable turn of events, Robinhood amassed a staggering 231 billion tokens within a mere 24 hours, boldly proclaiming its presence in the crypto arena.

This surge in popularity, according to crypto enthusiast Lola in her latest analysis, has catapulted SHIB to the coveted third position on Robinhood’s crypto podium, leaving established players like Litecoin and XRP trailing in its wake.

Robinhood Stuffs More SHIB To Its Cart

The Robinhood platform is not the sole arena where Shiba’s charm is proving irresistible. Based on insights from the crypto intelligence firm Arkham, in alignment with Lola’s observations, Robinhood’s SHIB holdings have expanded significantly to a jaw-dropping 36.684 trillion tokens, with an estimated value of approximately $350 million.

My #Robinhood Tweet yesterday shows 36.454 Trillion #SHIB by Robinhood from data provided by Arkham

and now in less than 24 hours , they have 36.684 Trillion $SHIB . 231 Billion Shiba INU added on that exchange

They are accumulating while #TRADEFI accumulating #Bitcoin…

— Lola (@CryptoLollla) January 17, 2024

This data, coupled with information from IntoTheBlock, paints a vivid picture of a full-blown Shiba stampede that is reshaping the crypto landscape.

Whales, considered the apex predators in the vast ocean of cryptocurrencies, seem to have fallen head over flippers for the meme coin. IntoTheBlock’s metric tracking “Large Holders Netflow” has recorded an astonishing spike of 1,542%, indicating a substantial accumulation of SHIB by these influential market players.

Whale Appetite Soars

This whale enthusiasm extends to a remarkable 181% surge in “Large Holder Inflow” and a staggering 551% increase in the “Whale Activity Index.” The collective movement of these whales resembles a synchronized swimming routine of the crypto elite, all with their synchronized wallets pointed towards SHIB.

Fresh whale wallets accumulated $SHIB, #BIGTIME, $MKR and $RNDR today!

0xF633 withdrew 1.44T $SHIB($13.36M) and 3M #BIGTIME($1.2M) from #Binance and #Gateio in the past 2 days.https://t.co/OkHSaNTFV9

0xAdf5 withdrew 1,075 $MKR($1.9M) from #Binance 4 hours ago.… pic.twitter.com/b83nvDsP8g

— Lookonchain (@lookonchain) January 9, 2024

The feeding frenzy intensifies with the emergence of a new Shiba whale, devouring a substantial 1.44 trillion tokens.

SHIBUSD currently trading at $0.00000955 on the daily chart: TradingView.com

The Robinhood-Shiba rendezvous and the orchestrated dance of the whales suggest a potential boom for the canine coin. Yet, the sustainability of this upward climb remains uncertain.

Shiba Inu, with the backing of Robinhood, Arkham, and the formidable whales, is no longer merely chasing Dogecoin’s tail. It is emphatically staking its claim on the crypto landscape, capturing the attention of the entire world.

Will Shiba Inu continue its upward climb? Only time will reveal the answer. Nevertheless, in the unpredictable realm of crypto, this underdog has undeniably earned its place at the table and is unafraid to bare its teeth in the face of potential growth and challenges alike.

Featured image from Shutterstock

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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