Robinhood's SHIB Accumulation Grows: 36.684 Trillion Tokens and Count

Robinhood, the commission-free trading platform, has seen a surge in Shiba Inu ($SHIB) accumulation according to data from Arkham Intelligence. In just 24 hours, the platform's SHIB wallet increased by 231 billion tokens, reaching a total of 36.684 trillion SHIB. This significant uptick suggests growing investor interest in the meme-inspired cryptocurrency on the Robinhood platform. Cryptocurrency exchange wallets, such as Robinhood's, reflect user holdings rather than the platform's own. These large wallets often secure funds in cold storage while users actively trade within the platform. The recent spike in SHIB holdings aligns with a broader trend of cryptocurrency whales accumulating the meme-inspired token. [embed]https://twitter.com/CryptoLollla/status/1747534069423022339[/embed] Notably, one whale transferred a staggering 136.8 billion tokens to a newly created wallet this week, coinciding with a community-driven burn event that incinerated 9.35 billion tokens, marking a 28,600% increase in the burn rate. Data from Lookonchain reveals that over the past month, four whales have collectively accumulated 2.39 trillion tokens from various cryptocurrency exchanges. TRON founder Justin Sun is among those accumulating SHIB, having added 577 billion tokens to his wallet. The rising burn rate is concurrent with Shiba Inu's strategic partnership with domain firm D3 Global. This collaboration allows users to acquire .shib domains, making Shiba Inu one of the first decentralized projects to pursue a top-level domain through the Internet Corporation for Assigned Names and Numbers (ICANN). Last month, SHIB made headlines with a substantial burn event, incinerating 8.6 billion tokens—a remarkable 160,598% increase from the previous day's burn rate. Shiba Inu's community employs token burns to reduce circulating supply, potentially influencing price dynamics with increased demand. As Robinhood continues to accumulate SHIB and the broader Shiba Inu community embraces strategic partnerships, the meme-inspired cryptocurrency remains in the spotlight for both its market activity and innovative collaborations.