Whale Wallet Moves 3 Trillion SHIB Tokens, Here’s Why
According to the crypto analysis platform Whale Alert, 3 trillion Shiba Inu (SHIB) tokens moved from one unknown wallet to another. The transfer took place over one transaction and was the second-largest single transfer since last week. The value of assets moved is about $82.4 million. Given the size of the transfer, the SHIB community was in splits about the identity of the wallet owner.
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Although Whale Alert did not name the wallet holder, Etherscan.io data shows that the crypto exchange Robinhood is affiliated with the receiving wallet. Moreover, Robinhood is also affiliated with the wallet that sent the 3 trillion tokens. The exchange may be reorganizing its holdings.
Shiba Inu (SHIB) to hit a new all-time high soon?
Shiba Inu (SHIB) is currently down by 68.6% from its all-time high of $0.00008616, which it attained in October 2021. However, the popular dog-themed cryptocurrency might reclaim its 2021 peak very soon.
According to CoinCodex, SHIB could hit a new all-time high next month. The platform predicts SHIB to hit $0.00009149 on May 22, 2024. Reaching $0.00009149 from current levels would translate to a growth of about 233%.
Changelly also paints a bullish picture for Shiba Inu (SHIB) over the next few weeks. The platform predicts SHIB to hit a new all-time high of $0.00009201 on May 20, 2024. Nonetheless, Changelly expects a price correction later this year.
Also Read: Shiba Inu Forecasted To Reach 1 Rupee 46 Paisa in India: Here’s When
The bullish outlook for SHIB could be due to Bitcoin (BTC) recently undergoing its halving cycle. Many analysts anticipate BTC to hit a new all-time high in May. If BTC hits a new peak, it may lead to a market-wide rally, leading to other assets hitting new highs as well.
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