'Dogecoin Killer' Shiba Inu Witnesses 6.84M Tokens Shifted To Coinbase, Binance: Rep Touts Shiboshi As 'Passive Income For Life'
Portfolio Pulse from Khyathi Dalal
Shiba Inu (SHIB) experienced a significant movement with 6.84 trillion tokens shifted to Coinbase, Binance, Robinhood, Cumberland, and Wintermute, worth $227 million. This activity coincides with a drop in SHIB's price by 5.7% and a spike in whale transactions. The Shib community believes Shiboshi NFTs offer 'passive income for life,' a sentiment echoed by Shiba Inu's marketing lead and lead developer. Despite a recent ranking drop, Shiba Inu's utility in the blockchain space is highlighted.
March 13, 2024 | 1:17 pm
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POSITIVE IMPACT
Coinbase received a significant inflow of Shiba Inu tokens, indicating increased trading activity and interest in SHIB on the platform.
The inflow of a large volume of Shiba Inu tokens to Coinbase suggests an increase in trading activity, which could lead to higher transaction volumes and potentially positive short-term impacts on COIN's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Robinhood also witnessed a significant inflow of Shiba Inu tokens, potentially increasing trading volumes and interest in SHIB on the platform.
The transfer of a substantial amount of Shiba Inu tokens to Robinhood could lead to increased trading volumes for the platform, potentially having a positive short-term effect on HOOD's stock price due to heightened trading activity.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70