- 36.684 trillion SHIB tokens were added to Robinhood in 24 hours, fueled by investor interest.
- Notable SHIB whale moves and a 28,600% burn rate increase.
- Shiba Inu strategic partnership with D3 Global collaboration, SHIB domain acquisition, and ICANN pursuit.
In a remarkable turn of events, Robinhood’s Shiba Inu (SHIB) wallets have witnessed a staggering surge, accumulating 231 billion tokens in just 24 hours. This unprecedented growth, revealed by Arkham Intelligence data, brings Robinhood’s SHIB holdings to an impressive 36.684 trillion tokens.
As the crypto community closely watches, this surge is a testament to growing investor interest. It aligns with broader trends, including significant whale activities and strategic partnerships within the Shiba Inu ecosystem.
SHIB accumulation on Robinhood
Robinhood, the commission-free trading platform, is making headlines with its substantial accumulation of Shiba Inu tokens. In a single day, the platform’s SHIB wallet saw an increase of 231 billion tokens.
Notably, these exchange wallets reflect user holdings, signifying a substantial surge in SHIB accumulation by investors on the Robinhood platform. Cryptocurrency whales have also played a pivotal role, with one whale moving a staggering 136.8 billion tokens to a newly created wallet on the exchange.
The accumulation of Shiba Inu on Robinhood coincides with a community-driven burn event that has incinerated 9.35 billion SHIB tokens, showcasing a remarkable 28,600% increase in the burn rate.
Last month, the community sent 8.6 billion SHIB tokens for permanent deletion, marking an astounding 160,598% increase from the previous day’s burn rate. This strategic combination of accumulation and burning underscores a dynamic market environment for Shiba Inu.
Recent Shiba Inu partnerships
The surge in SHIB holdings is not isolated but ties into Shiba Inu’s strategic initiatives. A notable partnership with domain firm D3 Global has empowered users to acquire SHIB domain names.
This collaboration positions Shiba Inu as one of the first decentralized projects pursuing a top-level domain name through the Internet Corporation for Assigned Names and Numbers (ICANN). The partnership aligns with the rising burn rate trend within the Shiba Inu community.