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Shiba Inu Gains More Than 20% Following Robinhood Listing and Whale Buys

Tue, 04/12/2022 - 13:54
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Tomiwabold Olajide
SHIB is currently leading the modest recovery of the cryptocurrency market
Shiba Inu Gains More Than 20% Following Robinhood Listing and Whale Buys
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Shiba Inu (SHIB) has recovered recent losses, spiking more than 20% to an intraday high of $0.0000284. The meme coin is currently leading the modest recovery of the cryptocurrency market. Shiba Inu's recent price move comes amid the positive news of Robinhood listing and whale buys.

As covered by U.Today, meme cryptocurrency Shiba Inu appears to have been listed by commission-free investing app Robinhood, according to a listing bot. The meme coin now shows up on the official website, even though the company is yet to officially announce the new addition to its line-up.

Source: CoinMarketCap

The price of the SHIB token is up 26.39% on its daily chart as seen on the FTX exchange, after rebounding from lows of $0.0000219. The canine token had been the most-requested cryptocurrency among Robinhood users. A petition to list the whimsical cryptocurrency has reached 559,661 signatures.

Following the plunge back to local lows, one of the biggest whales on the Ethereum network grabbed a significant number of SHIB tokens, which potentially contributed to the current recovery of the asset. In the last 24 hours, over 392 billion SHIB have been grabbed by the top ETH whales, as blockchain data tracker WhaleStats reports three large SHIB transactions.

Two of the transactions reported were those by the largest ETH whale named "Light," who bought a cumulative 331,907,311,956 SHIB worth $7,597,358. The first transaction was of 44,551,383,862 SHIB, or $1,019,781 worth, before the second one of 287,355,928,094 SHIB, or $6,577,577 million.

Another ETH whale, "Bombur," purchased a smaller amount of Shiba Inu in one transaction, worth $1,396,659 or 61,337,707,111 SHIB.

SHIB is currently trading at $0.0000282 per CoinMarketCap data.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.