Shiba Inu (SHIB) whales have been busy in the market lately, as on-chain data suggests that they are positioning themselves for more moves to the upside from the meme coin. This development comes as the crypto token inches close to its all-time high (ATH).
Shiba Inu Whale Accumulates 332 Billion SHIB Tokens
On-chain data shows that over 332 billion SHIB was sent from the trading firm Cumberland to a wallet linked with the crypto trading platform Robinhood. While the nature of the transaction remains unclear, further data from Etherscan shows that the Robinhood-linked wallet has been accumulating SHIB on a large scale these past few days.
Besides the single transaction of 332 billion SHIB, the wallet has also seen millions of SHIB tokens flow into it. A plausible explanation is the fact that the trading platform is seeing increased interest in the meme coin from its customers and has had to stack up on its SHIB holdings. Data from Arkham Intelligence shows that Robinhoo
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