Shiba Inu Witnesses Massive Accumulation as Sell-Off Speculations Arise
Shiba Inu, an Ethereum-based meme coin, has been experiencing significant accumulation recently, leading to speculation within the community about a potential sell-off. Notably, Justin Sun, the founder of Tron, made a substantial addition to his Shiba Inu portfolio by acquiring over 79 billion SHIB tokens.
Justin Sun Increases Shiba Inu Portfolio
A recent report revealed that Justin Sun transferred approximately 79.33 billion SHIB tokens, worth $751,000, from Binance to his portfolio. This move marks Sun’s second-largest Ethereum-based holding and is part of his ongoing acquisition of Shiba Inu.
In addition to Shiba Inu, Sun also made substantial withdrawals of other digital assets such as Chainlink (LINK), Decentraland (MANA), Floki (FLOKI), and Band Protocol (BAND), with a total value of $3.5 million.
Robinhood Joins the Trend
Robinhood, the popular crypto platform, has also joined the trend of accumulating Shiba Inu. Within 24 hours, Robinhood added around 231 billion SHIB tokens to its holdings. This move has caught the attention of the community and indicates further interest in Shiba Inu.
While Robinhood accumulates SHIB, another platform called Tradefi is focusing on acquiring Bitcoin. This divergence in asset accumulation strategies has been noted by Shiba Inu enthusiasts.
Hot Take: The Impact of Whale Accumulation
The recent whale accumulations of Shiba Inu by Justin Sun and Robinhood have sparked discussions within the community. Some believe that these acquisitions signal strong support for the project and may attract more whales. Justin Sun’s reputation as a prudent investor adds credibility to his actions, potentially influencing others to consider Shiba Inu. The growing interest in Shiba Inu due to these whale accumulations could have significant implications for the future of the meme coin.
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