3 Trillion SHIB Sent To Robinhood, Shiba Inu Price Soared

JAKARTA - Shiba Inu, a crypto token inspired by dog memes, is experiencing price increases recently. In the midst of the increase in SHIB prices, there is one transaction that attracts public attention, namely sending 3 trillion SHIB tokens to the Robinhood trading platform.

Reporting from The Crypto Basic, on March 1, at 23:47 (UTC), a large transaction occurred on the Ethereum network. An unknown user sent 3,023,255,579,400 (3.02 trillion) SHIB token worth nearly 50 million US dollars (Rp783.5 billion) to an address linked to the Robinhood crypto trading platform.

This transaction was detected by Whale Alert, a tracker for the large number of crypto asset movements. According to data from Etherscan, the cost of this massive transfer transaction is only about 1.5 US dollars (Rp23,500), showing cost efficiency on the Ethereum network.

Despite sending large amounts of SHIB to Robinhood, the user still has 6.86 trillion tokens, worth about 150 million US dollars (IDR 2.35 trillion). In addition, the address also has other crypto assets, such as ETH, LINK, and COMPAP, with a total value of around 274 million US dollars (IDR 4.29 trillion).

Until now it is not known who the sender's identity is and what its purpose is. However, it is possible that the address belongs to Robinhood itself, which may be preparing to add SHIB as one of the crypto assets that can be traded on its platform.

Robinhood has not provided confirmation or explanation of this transaction. However, the platform has been known as one of the largest SHIB holders since 2022. In January, Robinhood is rumored to have accumulated 140 billion SHIB tokens, making SHIB the company's third-largest crypto asset, after DOGE and BTC.

Impact On Shiba Inu Prices

This big transaction occurred at a time when the price of the Shiba Inu was experiencing a strong upward trend. In the past day, the price of SHIB jumped nearly 70% to 0.00002315 US dollars (Rp0.36). Within a week, the price increase reached 130%. In a month, the price increase reached 147%. And since March 2023, the price has reached 86%.

SHIB's trading volume also increased significantly, reaching 5.91 billion in 24 hours, up 327% from the day before. This shows the high interest of traders and investors in this token.

With this impressive price performance, Shiba Inu now occupies the 11th position as the largest crypto asset, with a market capitalization of 13.25 billion US dollars (Rp207.7 trillion). This dog-themed token managed to beat several popular crypto assets, such as TRX, LINK, DOT, and MATIC.

Although SHIB has recorded remarkable price increases, there is no guarantee that this trend will continue. Memecoin, including SHIB, has high risk and high volatility. Memecoin prices are strongly influenced by unpredictable factors, such as market sentiment, rumors, speculation, and manipulation.