😱🦈Rise: Shiba Inu whale raises $40 million from SHIB

Observing the movements of intelligent whales can provide valuable information for cryptocurrency traders and investors navigating cryptocurrency waters. These fairly capitalized addresses have a profitable trading history.

On May 1, an anonymous wallet made a large transaction on the Robinhood exchange, buying 1.75 trillion #ShibaInu ( #SHIB ) tokens worth about $ 40 million.

Data from Whale Alert shows that this significant purchase involved two separate transfers, each carrying 875 billion SHIB in less than a minute.

Huge transactions were made from Robinhood to the wallet address '0X73AF3BCF944A6559933396C1577B257E2054D935'.

According to Etherscan data, this wallet has previously moved SHIB to and from Robinhood. Over the past month, this address has been significantly busy with high volume transactions on the SHIB Sunday.

In particular, on April 24, he transferred 3 trillion SHIB to Robinhood and demonstrated the regular entry and exit pattern on the platform. This behavior underlines the considerable influence of the wallet on the market, with it currently holding 5.88 trillion SHIB, worth about $ 128 million.

Market impact and forecasts

Professional crypto trader Ali Martinez recently mentioned in a post on X (formerly Twitter) that Shiba Inu has created a bull flag on its daily chart. The bullish flag is a bullish pattern and indicates that the crypto asset is ready for further upward movement. Anticipating this, the crypto analyst announced that he had placed buy orders around $ 0.000018343, targeting an upward trend that could increase the price of Shiba Inu to $ 0.000072323.

According to Coinmarketcap data, Shiba Inu's daily trading volume has increased by about 40%. This increase is mostly due to the Binance crypto exchange, which has announced a large number of sought-after trading pairs, including its Japanese arm SHIB.

#memecoins #binance