# Massive Shiba Inu Transfer: 1.75 Trillion SHIB Moves, Sparks Market Excitement By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/business/11693 Published: 2024-05-03T02:23:28.000Z Updated: 2024-05-03T02:23:28.000Z Section: Business > On May 2, Whale Alert tracked two enormous transfers totaling 1.75 trillion Shiba Inu (SHIB) tokens from Robinhood, driving a more than 6% increase in SHIB's price and igniting bullish sentiment among investors. Signi… On May 2, Whale Alert tracked two enormous transfers totaling 1.75 trillion Shiba Inu (SHIB) tokens from Robinhood, driving a more than 6% increase in SHIB's price and igniting bullish sentiment among investors. Significant Shiba Inu Transfers Hint at Potential Recovery, Sparking Market Optimism In a recent report by [CoinGape](), on May 2, a wallet address withdrew 1.75 trillion SHIB in two transactions of 875,000,000,000 SHIB, each worth $19 million. The large migration of Shiba Inu tokens from Robinhood to a single wallet address has fueled optimism that the SHIB price may recover following its recent collapse. The vast transactions occurred between [Robinhood]() and the wallet address 0x73AF3bcf944a6559933396c1577B257e2054D935. Etherscan data shows that the wallet previously moved SHIB to and from Robinhood. Before the most recent 1.75 trillion payment, the wallet had transferred 3 trillion SHIB to Robinhood 8 days ago and 4 trillion SHIB 13 days prior. Thus, it might be either Robinhood's internal wallet or a market maker. The tokens in the wallet have ruled out the likelihood of them belonging to Robinhood. Further investigation revealed that on-chain experts had previously reported the wallet address for substantial token transfers, claiming it belonged to market maker Jump Trading. This wallet contains 246 different cryptocurrency holdings totaling $449 million. SHIB is the second-largest holding. The wallet stores more than 5 trillion SHIB tokens worth $129 million. Shiba Inu Price Rises Amid Fluctuating Trading Volume and Increased Futures Interest [SHIB's price]() has risen 6% in the last 24 hours, trading at $0.00002214. The 24-hour low and high are $0.00002071 and $0.00002300, respectively. Furthermore, trading volume has declined somewhat during the last 24 hours. The SHIB futures open interest (OI) increased by 3% in the last 24 hours, indicating a surge in interest in the derivatives market. 1000SHIB futures OI on Binance also increased by 2%, with purchasing activity continuing in the last few hours. However, SHIB prices have been trading below the declining trendline since March. A reversal may occur if the price fails to rebound at its current level. Photo: [Microsoft Bing]() [TokenPost]() | info@tokenpost.com ## Links in this article - [CoinGape](https://coingape.com/shiba-inu-news-1-75-trillion-shib-moves-from-robinhood-whats-happening/?fbclid=IwZXh0bgNhZW0CMTAAAR2hbCt6amWWb4p9kUTCtdooq6zx2awGGxKtINLpdWN0Y3Ctd6GjRmONaOA_aem_AUtYMgYmqL6G5pTK3dzcYwM7cvDblF6y6-6mAW_3d186VZ8L_YTMfjDShiqRVoR4-CUHKTH2BCfWcwrDvArJq2Gw) - [Robinhood](https://coingape.com/breaking-robinhood-lists-shiba-inu-shib-prices-jump/) - [SHIB's price](https://coingape.com/price/shiba-inu) - [Microsoft Bing](https://www.bing.com/images/create/massive-shiba-inu-transfer3a-175-trillion-shib-mov/1-663394c0255d4036998d95588db2f554?id=EUmi2kBv74X4mQbo%2buGIag%3d%3d&view=detailv2&idpp=genimg&thId=OIG1.lS6vqnWWINPwTvT_eJDo&FORM=GCRIDP&mode=overlay) - [TokenPost](https://www.tokenpost.com)