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- Robinhood transfers 2 trillion SHIB tokens to an undisclosed wallet, sparking speculation in the crypto community.
- Analyst predicts a potential breakout for SHIB, targeting $0.000072323, and advises buy orders around $0.000018343.
- Unintentional burns of 2 billion SHIB tokens reduce circulating supply, potentially increasing demand and price pressure.
A massive movement of SHIB tokens from Robinhood to an unknown wallet has sparked speculation, while an analyst predicts a potential breakout for the meme currency. Meanwhile, inadvertent burns could potentially boost demand and price pressure.
Robinhood Transfers 2 Trillion SHIB Tokens
Whale Alert, a renowned blockchain tracker, has identified a significant movement of Shiba Inu (SHIB) meme currencies on Robinhood, a popular investment platform. Almost two trillion SHIB tokens were transferred to an unidentified wallet, raising questions in the crypto community. Over the past eight hours, a mysterious wallet identified as -4D935 has received two large chunks, each containing 875 billion SHIB tokens, totaling 1.75 trillion SHIB. This transaction, valued at $39.2 billion, has sparked speculation about the intentions behind the transfer.
Analyst Predicts SHIB Breakout
Cryptocurrency expert Ali Charts has observed a bullish pattern forming on SHIB’s daily trading chart. Ali predicts a potential breakout for SHIB, targeting the $0.000072323 level. To capitalize on this anticipated surge, Ali suggests placing buy orders around the $0.000018343 price mark.
Inadvertent Burns Reduce SHIB Circulating Supply
In April, the Shiba Inu community suffered a setback when over two billion SHIB tokens were unintentionally burnt. According to the Shibburn explorer, a total of 1,695,717,536 SHIB tokens were deemed unspendable due to transaction errors. These tokens, worth millions, were irretrievably lost, serving as a warning to investors to double-check wallet addresses before transferring funds. The inadvertent burns significantly reduced the circulating supply of SHIB tokens, potentially impacting its market dynamics. The shortage caused by these burns may lead to increased demand and rising price pressure for SHIB in the future.
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Conclusion
The recent movement of 2 trillion SHIB tokens from Robinhood to an undisclosed wallet has raised eyebrows in the crypto community. Meanwhile, an analyst predicts a potential breakout for SHIB, and inadvertent burns could potentially increase demand and price pressure. As the crypto market continues to evolve, investors are advised to stay informed and exercise caution.
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