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Data from Arkham Intelligence reveals Robinhood’s significant increase in Shiba Inu ($SHIB) holdings. Shiba Inu enthusiast named “Lola” on social media platform X, highlights the recent surge, with Robinhood accumulating billions of $SHIB within 24 hours.
Viral Tweet
Lola’s tweet, citing Arkham Intelligence data, discloses Robinhood’s rapid growth in $SHIB holdings, rising from 35 million $SHIB to 36.684 trillion $SHIB in just a day. This accumulation, valued at $350.34 million, indicates a remarkable addition of approximately 230 billion $SHIB tokens. Lola emphasizes that while Robinhood accumulates $SHIB, the broader decentralized finance (DeFi) sector is witnessing a similar trend with Bitcoin.
Market Data
On-chain data supports the narrative of whale accumulation, as $SHIB experiences a 1,542% spike in Large Holders Netflow, reflecting changes in positions among substantial $SHIB investors. The surge in Large Holder Inflows by 181% suggests increased buying activity during a period of low $SHIB prices.
Additionally, the Large Transaction Volume index, witnessing a 551% uptick, signifies considerable movement with 5.9 trillion $SHIB tokens transferred in large transactions.
Despite the accumulating trend, $SHIB’s market value shows a slight decline of 1.43% in the last 24 hours, settling at $0.000009544, according to CoinMarketCap data.
In conclusion, as Robinhood expands its $SHIB holdings, the on-chain indicators point towards large accumulation by whales, indicating a probable bullish sentiment.