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A smart SHIB investor turned $3,800 into $109 million and sold 250 billion tokens recently.
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The whale’s initial SHIB investment grew to $1.22 billion during the token’s all-time high.
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The price of Shiba Inu fell to $0.0000241, raising concerns about its short-term performance.
Shiba Inu (SHIB) is proving that it is more than just a meme coin, turning heads with an impressive 153.3% price increase over the past year. Recently, a clever Shiba Inu whale reportedly sold 250 billion SHIB tokens worth $6.05 million in the last few hours, reflecting a total profit of $109 million.
Early investment pays off
According to Lookonchain, a blockchain analytics platform, the whale’s journey with SHIB began on August 6, 2020, when they invested a small $3,800 to purchase a massive $15.28 trillion SHIB token.
A whale sold 250B $SHIB($6.05M) for profit in the past hour!
The whale spent $3.8K to buy 15.28T $SHIB($1.22B at the peak) as early as August 6, 2020.
This whale currently holds 2.15T $SHIB($52.18M), with a total profit of $109M on $SHIB.https://t.co/BWxcnWuwFR pic.twitter.com/aQZFPyhYSv
— Lookonchain (@lookonchain) December 19, 2024
However, this initial investment turned out to be a turning point as the value of SHIB skyrocketed over time. At its peak, the whale’s holdings were worth $1.22 billion, making it one of the most profitable trades in the cryptocurrency market.
Even after selling a significant portion of its holdings, the whale still owns 2.15 trillion SHIB tokens, valued at $52.18 million. Meanwhile, the overall profits of this company amount to an impressive $109 million.
Shiba Inu Price Update
Shiba Inu (SHIB) is facing increasing pressure and its price saw a drop of 5.57% in the last 24 hours. It is currently trading at around $0.0000241 and its market capitalization is $14.1 billion. This recent downturn has raised concerns about SHIB’s near-term decline.
Technical indicators, such as Bollinger Bands, suggest a possible decline in SHIB price in the short term. The lower band suggests the token price could fall to $0.0000238, with a potential drop to around $0.0000228 as it seeks a local bottom.
Despite the ongoing decline, SHIB is approaching its critical level of 50 EMA, which could act as a turning point. If the token finds support at $0.000024, it may attract renewed investor interest and spark a potential recovery.
