news 
Shiba Inu whale profits big: Sells 250 billion SHIB for $6 million gain
A significant profit has been made by a Shiba Inu whale, as they sold 250 billion SHIB for a staggering $6 million gain. This remarkable feat highlights the immense profitability potential of this memecoin.
The whale in question had initially spent $3.8K to acquire 15.28 trillion SHIB back in August 2020 when the token was at its peak value of $1.22 billion. Since then, they have held onto their investment and reaped a massive profit of over $109 million. This incredible return on investment is nothing short of astonishing.
It’s worth noting that not all investors have been as fortunate. In fact, over 600k SHIB addresses are now “out of money,” accounting for more than 42% of the total number of SHIB addresses. This stark contrast between the whale and these struggling investors serves to emphasize just how precarious the market can be.
Despite this latest setback, there may be hope on the horizon. The data suggests that Shiba Inu’s trading volume has increased sharply while its price fell. Whenever this occurs, it often indicates a higher likelihood of further downward pressure.
However, another crucial metric shows buying pressure increasing slightly last week. This development is underscored by a decline in supply on exchanges and an uptick in the NVT ratio. These factors collectively hint at a potential trend reversal for SHIB.
Furthermore, the Money Flow Index (MFI) has also recorded an uptick, which may indicate rising buying activity. In this scenario, a price surge to $0.00002615 is possible.
In summary, while not all investors have been as fortunate as this whale, there may be hope for a turnaround in the future.
Source: eng.ambcrypto.com
