NFT
Crypto Whale Transaction Involving Shiba Inu and Dogecoin on Robinhood
Monday. July 22 at 2:30 AM
1 min. readWhale Alerts, a crypto whale transaction tracker, recently disclosed an intriguing on-chain transaction involving meme coins Shiba Inu and Dogecoin, as well as the popular crypto exchange Robinhood. Within the last 24 hours, 800 million DOGE and 2.7 trillion SHIB tokens were moved from Robinhood to unknown wallets, sparking curiosity and prompting further analysis. The transfer of 800 million DOGE tokens to wallet address 'DEgDVF' in two transactions valued at $100.54 million, making it one of the largest DOGE holders. Similarly, 2.7 trillion SHIB tokens were sent to address '0x40B3,' worth $48.3 million, also a significant SHIB holder. Speculation suggests these wallets may belong to Robinhood, strategically moving assets to cold storage. The market implications of such large transfers include reduced selling pressure and potential bullish trends, with DOGE and SHIB prices showing slight increases. Overall, whale transactions like these can significantly impact meme coin markets.