A long-term Shiba Inu (SHIB) holder has reaped substantial profits by selling the memecoin after a prolonged hold, according to on-chain data from Lookonchain.
The investor, who had patiently held onto more than 48 billion SHIB tokens for over three years, realized a staggering 419x gain on their initial investment. They initially purchased the Dogecoin (DOGE) competitor in February 2021 for $2,625 and recently liquidated their holdings for $1.1 million, resulting in a profit exceeding $1.09 million.
"After remaining dormant for three and a half years, the super diamond trader finally offloaded SHIB at a profit. They acquired 48.09 billion SHIB for two ETH ($2,625) on February 1st, 2021, and sold it for 278.7 ETH ($1.1 million) [on May 27th], marking a gain of 419x!"
At the time of reporting, SHIB is valued at $0.00002569, exhibiting a nearly 1% increase over the past 24 hours.
Additionally, Lookonchain identified another astute trader who swiftly capitalized on trading Ethereum (ETH) this month. This trader had also amassed significant gains from selling ETH in March, having accumulated nearly 18,000 ETH between 2017 and 2020.
"Another savvy investor disposed of 3,025 ETH for 11.8 million DAI at $3,904 [on May 28th], yielding a profit of approximately $1.11 million. This investor had acquired 17,770 ETH from 2017 to 2020 at an average price of $182, and sold them at $3,503 on March 28th, 2024, accruing a profit of roughly $59 million!"
Source: Lookonchain/X
In conclusion, these instances underscore the potential for substantial gains in the crypto market for patient and strategic investors.
SHIB experiences a 3900% increase in token burn rate alongside $35.2M whale investments, fueling hopes for a rally. Trading at $0.00002569, short-term surges to $0.00003 and $0.00005 anticipated.
Xu LinSHIB's burn rate surges by 310%, reducing supply and boosting trader optimism. Specific wallet addresses drive the increase. Despite recent price fluctuations, SHIB holds above crucial support levels, potentially rebounding. Long-term outlook hints at a rally to $0.0001 with sustained bullish momentum.
Xu LinSHIB briefly rises to 11th largest crypto with $17B market cap, alongside WIF. A subsequent 7% decline follows amid market correction. Analysts predict potential rally to $0.00006. On-chain metrics indicate some overvaluation, with MVRV at 1.43.
Huang BoShiba Inu (SHIB) saw a surge in activity as whales adjusted portfolios amidst market volatility. Despite this, SHIB's price remains stable at $0.00002552. Large transactions increased, suggesting potential market shifts.
Xu LinShiba Inu sees a surge in large transactions, hinting at bullish trends and potential major price action as whales reposition their holdings.
EdmundShiba Inu's Lucie shares inspiration amidst SHIB's price dip. ShibaSwap 1.75 launches on Ethereum and Shibarium, offering new opportunities. Grok AI likens Shibarium to a serene suburb, highlighting faster transactions and lower fees. Despite complexities, the upgrade offers hope for the SHIB community.
EdmundShiba Inu (SHIB) saw 1.7 trillion SHIB in whale transactions, but with a drop in volume to $40.48 million from a $223.76 million peak. Technical indicators show mixed signals, suggesting internal shuffling rather than genuine market interest. Consistent buying pressure is needed for a price surge.
Xu LinShiba Inu's recent whale transfer to Coinbase triggers speculation amid price slip. Bearish sentiment prevails as SHIB dips 2.60% to $0.00002445. Concerns arise over increased selling pressure and decreased market activity. Long-term outlook depends on community resilience and market control.
Huang BoSHIB sees 4.07% surge, outpacing DOGE's 1.48% hike. Speculation arises over SHIB surpassing DOGE. Short-term analysis favors SHIB, but DOGE gains more traders. Long-term sentiment favors DOGE. Both show potential for growth, with DOGE targeting $0.17 and SHIB aiming for $0.000033.
Huang BoBinance upgrades SHIB to its primary platform, signaling its maturation and promising future in the crypto market.
Huang BoShiba Inu's price showcases a potential reversal pattern amidst breaching the 200-day EMA, while Solana experiences a downturn, and Ethereum finds support at the 50-day EMA. These developments indicate a delicate market balance, with potential entry points for investors and indicators pointing to consolidation before possible momentum shifts.
Edmund
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