Interest in Shiba Inu, the meme coin that continues to lead the market along with Dogecoin and still ranks within the top 20, is on the rise. What developments are happening with SHIB, which has made its investors happy with incredible price increases in the past?
Robinhood Continues to Accumulate
Those who believe that the crypto bull season is approaching continue to accumulate SHIB. In this context, with the latest purchases, Robinhood, one of America’s leading exchanges, has strengthened its position as the third largest SHIB holder. Crypto enthusiast Lola, who closely follows Shiba Inu, recently drew attention to the matter with her post on platform X.
Based on data provided by Arkham Intelligence, Lola stated that the US-based major exchange held 36.825 trillion SHIB tokens as of the announcement time.
Furthermore, Lola mentioned that this figure was reached following a new purchase by Robinhood equivalent to 140 billion Shiba Inu. Meanwhile, it was noted that the exchange was selling Bitcoin at the same time as these purchases were being made.
Robinhood’s Latest Moves
Before the latest purchase, Robinhood’s Shiba Inu assets were equivalent to 36.685 trillion, while its BTC portfolio contained 131,438 BTC.
Recent data reveals that the exchange now holds 36.825 trillion SHIB, while a noticeable decrease in BTC assets was observed. Specifically, there was a reduction of approximately 468 BTC, valued at around $19,449,144.
Lola’s latest post came after an earlier one stating that Robinhood had accumulated over 231 billion Shiba Inu tokens within a 24-hour period. The mentioned post was shared on Wednesday, January 17. In summary, the number of Shiba Inu tokens owned by Robinhood increased by about 371 billion in roughly four days.
Considering the trading price of Shiba Inu, the current value of the 36.825 trillion SHIB tokens held by Robinhood is approximately $347.63 million, a substantial amount.
This value positions Shiba Inu as the third-largest token held by Robinhood, following Bitcoin and Ethereum. The value of Shiba Inu in Robinhood’s portfolio appears to be more than double that of its closest competitor, Avalanche (AVAX).
Additionally, according to data from Arkham Intelligence, the over 36 trillion SHIB tokens attributed to Robinhood, if not considering the burn address, indicate that it is the third-largest holder of Shiba Inu. The only entities holding more SHIB than the exchange are Crypto.com and Binance.
