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Shiba Inu whale profits big: Sells 250 billion SHIB for $6 million gain
A significant profit has been made by a Shiba Inu whale, who sold 250 billion SHIB and gained a whopping $6.05 million. This remarkable transaction was reported by Lookonchain, a prominent handle that provides updates on investor activity.
It’s worth noting that the whale initially invested in the memecoin in August 2020, when they purchased 15.28 trillion SHIB at a peak value of $1.22 billion. Fast forward to the present, and it’s clear that this shrewd investor has seen their holding appreciate significantly, with the current value being approximately $52.18 million.
Furthermore, it was also discovered that this whale currently holds an impressive 2.15 trillion SHIB units, which have a worth of $109 million as of now. This substantial gain is a testament to the whale’s shrewd investment strategy.
It’s essential to note that AMBCrypto previously reported that there has been an increase in large transactions related to Shiba Inu, which is not particularly surprising given the memecoin’s recent price consolidation at $0.00002759.
Following this news, SHIB’s price dropped by a substantial 9% within the last 24 hours alone, leaving it trading at around $0.00002202 with a market capitalization of over $12.97 billion as of today.
As a result of this decline in value, more than 600,000 SHIB addresses were left “out of money”, which accounted for over 42% of the total number of SHIB addresses.
Source: eng.ambcrypto.com
