In a significant move in the cryptocurrency market, an anonymous wallet has transferred a staggering $75 million worth of Shiba Inu (SHIB) meme coins to the popular investment app Robinhood. This transaction, reported by blockchain tracker Whale Alert, took place roughly six hours ago as SHIB, the second most popular meme cryptocurrency, saw a 10% price increase within the last 24 hours.

The mysterious wallet sent 3 trillion SHIB, valued at approximately $74.8 million at the time, to Robinhood. This transfer is part of a broader trend of increased activity among SHIB whales. On May 15, Cumberland, a major cryptocurrency trading firm, moved 144 billion SHIB coins, worth around $3.3 million, to Coinbase, the largest US-based crypto exchange. Prior to this, 50.36 billion SHIB were deposited to OKX.

In the past week, SHIB whales have been particularly active. Before the massive 3 trillion SHIB transfer, over 1.5 trillion SHIB were transacted within 24 hours, with individual transfers ranging from 42.6 billion to 397 billion SHIB. These transactions were directed to leading cryptocurrency platforms, including Binance, Coinbase, and Gate.io.

In addition to the SHIB transfer, another anonymous wallet deposited 200 million Dogecoin (DOGE) to Robinhood. This influx of meme coins comes as SHIB experiences a bullish breakout, surging by 12.26% in the last 24 hours, with 3.5% of this increase occurring in the past two hours. Currently, SHIB is trading at $0.00002574.

Adding to the positive momentum, Shibburn, a meme coin explorer, reported that the SHIB community has burned nearly 10 million SHIB in the last 24 hours, boosting the SHIB burn rate by 306.7%. This increase in burn rate, achieved through over twenty transactions to unspendable blockchain wallets, included significant burns of 1,447,938, 1,359,610, and 1,000,000 SHIB.

The recent flurry of whale activities and the bullish trend in SHIB's price highlights the growing interest and dynamic movements within the meme coin market.