Millions In Shiba Inu And Dogecoin Flow Out Of Robinhood As Crypto Whales Make Their Move, Do They Know Something You Don’t?
Crypto whales tracker Whale Alert recently unveiled a significant on-chain transaction involving Shiba Inu (SHIB) and Dogecoin (DOGE). This massive movement has sparked investor concern due to the potential for price dips following such large transactions. Consequently, investors are diversifying their portfolios, turning to ETFSwap (ETFS), which has already yielded nearly 200% returns for early investors.
Crypto Whales Transfer Massive Amounts Of Dogecoin And Shiba Inu From Robinhood
According to Whale Alerts, this transaction, which took place within the past 24 hours, involved the movement of 800 million DOGE and 2.7 trillion Shiba Inu (SHIB) tokens, respectively, from Robinhood into unknown wallets. As expected, the huge nature of these transfers has piqued interest, prompting further analysis of on-chain data to ascertain the motive behind them.
A closer look at the Dogecoin transaction reveals a transfer of 800 million tokens to an anonymous whales wallet address in two separate 400 million Dogecoin transactions. Valued at approximately $50.27 million each, the total transfer amounted to roughly $100.54 million. This whales’ addresses now holds a substantial 31 billion Dogecoin tokens, solidifying its position as a major Dogecoin holder.
Similarly, the Shiba Inu transaction involved a transfer of 2.7 trillion Shiba Inu tokens to an anonymous whales wallet which also holds a significant 36.6 trillion Shiba Inu. The total value of the Shiba Inu transfer was around $48.3 million. Given the substantial holdings of both recipient whales addresses, there is speculation that they might be linked to Robinhood itself, suggesting a potential strategic move to cold storage.
Regardless of wallet ownership, the removal of such large quantities of Dogecoin (DOGE) and Shiba Inu (SHIB) from Robinhood could impact the crypto market. The market is slowly moving into another bullish state, and the substantial reduction in the supply of these tokens on the Robinhood exchange contributes to a decrease in selling pressure. At present, Dogecoin (DOGE) is trading at $0.1313, up 3.5% in the past 24 hours, while Shiba Inu is trading at $0.00001791, with a more modest 0.5% increase.
ETFSwap (ETFS): A New Paradigm For ETF Trading
Capitalizing on the recent turmoil experienced by Shiba Inu and Dogecoin investors following a significant whales transaction, ETFSwap (ETFS) has emerged as a compelling alternative. The DeFi platform unlike any has garnered significant market attention due to its unique value proposition. ETFSwap (ETFS) innovatively merges decentralized and traditional finance, to revolutionize crypto and ETF trading.
Leveraging blockchain technology, ETFSwap (ETFS) provides robust market-making and round-the-clock perpetual trading services for seamless tokenized ETF trading. This is possible because the platform has partnered with MiCa-compliant banks and investments to deal with securities and crypto. These tokenized ETFs, include spot Bitcoin, spot Ethereum, fixed income, equity, bond, leveraged and commodity ETFs, among others.
The DeFi platform is user-friendly, and easy to navigate because it invoporates advanced trading tools like the ETF Screener among others, enabling traders to actively monitor and track their various tokenized ETF investments and also find them the most profitable tokenized ETF investments at any given time. With ETFSwap (ETFS), smart crypto investors and whales have countless opportunities to position for generational wealth using a provisional 100x leverage that can amplify profit returns on tokenized ETF investments up to 49,000%.
Additionally, the platform offers an impressive 87% APR staking yield to reward its community. Finally, to foster trust and transparency, ETFSwap (ETFS) has undergone a KYC verification audit conducted by Solidproof. The native currency of the ETFSwap platform, ETFS is currently available for purchase at the undervalued price of $0.01831. Although trading below $1, analysts predict a potential price above the $1 mark once listed on major crypto exchanges.
Conclusion
As Shiba Inu (SHIB) and Dogecoin (DOGE) investors face market uncertainty due to recent whales sell-off, the search for promising investment alternatives intensifies. ETFSwap (ETFS) emerges as a compelling contender for 2024, offering groundbreaking utilities, innovative features, and comprehensive DeFi solutions to lead the crypto and ETF trading revolution.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
