Shiba Inu Whale Nets $109M Profit After Holding Since 2020, But Why Is SHIB Price Falling?
By Benzinga
‘Dogecoin Killer’ Shiba Inu (CRYPTO: SHIB) is expected to see a major rally despite its current stagnation.
What Happened: Lookonchain data highlights an early SHIB whale who recently sold 250 billion SHIB (worth $6.05 million) for profit.
The whale originally invested just $3,800 in August 2020 to acquire 15.28 trillion SHIB, worth $1.22 billion at its peak. Over time, they’ve realized a profit of $108 million and made another move by depositing 399.99 billion SHIB ($9.69 million) to Gemini in the last hour.
The whale still holds 2.15 trillion SHIB, currently valued at $52.18 million, pushing their total profit to an impressive $109 million.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Shiba Inu (CRYPTO: SHIB) | $0.00002394 | $14.1 billion | -7% | -17% |
| Dogecoin (CRYPTO: DOGE) | $0.3632 | $53.4 billion | -6% | -12% |
| Pepe (CRYPTO: PEPE) | $0.00001909 | $8.02 billion | -10.8% | -22.8% |
Trader Notes: Cryptocurrency Inside, a crypto influencer and meme coin enthusiast, shared optimism about Shiba Inu’s future.
He forecasts significant growth in next year’s first quarter and suggests that retail investor behavior will drive SHIB’s rally to gain serious momentum.
Shib Spain, another trader, urged the community to stay calm despite recent price drops.
He believes Shiba Inu is holding above critical support levels. “Don’t need to panic sell! DiamondHands,” tweeted Shib Spain.
Statistics: IntoTheBlock data shows 1.4% increase in large transaction volume and 10.4% growth in daily active addresses. Transactions greater than $100,000 widened from 264 transactions to 282 in a single day.
Shibariumscan data shows daily transactions increased from 4.69 million to 4.72 million in a day.
Read Next:
Image: Shutterstock
