u.today
There has not been much significant activity with the Shiba Inu token ($SHIB) in the last 24 hours, despite a sharp shift in price to the positive side. Perhaps the only transfer worth noting is the withdrawal of 74.156 billion $SHIB by Wintermute, a leading market maker with nearly $200 million in capital, from the platform of Robinhood, a leading broker in the United States.
A withdrawal equal in current prices to more than a million dollars was further moved between different market maker addresses.
Further, however, the transaction history implies a large-scale shuffling of these tokens between different exchanges like Binance and OKX. As a result, Wintermute known Arkham's wallets currently hold 25.125 billion $SHIB, which is equivalent to $360,800.
Thus, what at first may have seemed like a colossal withdrawal, which are traditionally considered bullish signals, in fact turned out to be the usual work of a market maker.
Shiba Inu ($SHIB) price outlook
While Wintermute shuffled billions of Shiba Inu tokens between centralized marketplaces, the price of $SHIB, as mentioned, shows highly volatile behavior. It is ultra bullish, to be precise.
Thus, since the beginning of the week, the price of Shiba Inu token has increased by more than 10.5%. As a result, $SHIB quotes reached $0.0000146 - the maximum since the end of July.
How Wintermute's current actions will affect the quotes of the popular meme-inspired cryptocurrency is an open question. However, such activity is hardly without consequences on the $SHIB price chart.