Early Shiba Inu Investor Nets $9.59M Amid Market Downturn

Details of the Recent Transaction
Market Trends and Investor Strategies

An early Shiba Inu (SHIB) investor capitalized on the ongoing market downturn, selling nearly 400 billion tokens for a staggering $9.59 million profit. The transaction was reported by Lookonchain, a platform monitoring significant financial movements in the crypto space.

The investor initially purchased 15.28 trillion SHIB for just $3,800 in August 2020 at an average price of $0.000000000248 per token. By SHIB’s October 2021 all-time high, these holdings were valued at $1.22 billion. Over time, the investor strategically sold portions of their holdings, securing substantial profits.

Details of the Recent Transaction

The latest sale involved nearly 400 billion SHIB tokens transferred to the Gemini exchange in multiple transactions. Lookonchain data reveals three initial transactions of 10 million, 99.98 billion, and 150 billion tokens, followed by another 150 billion tokens.

With SHIB trading at approximately $0.000024 during the sale, the total 400 billion tokens were valued at $9.6 million. This represents a massive return, considering the tokens were acquired for just $99.19 in 2020.

Despite the significant sale, the wallet still holds 2 trillion SHIB tokens, valued at around $48 million, and has conducted other transactions on exchanges like Crypto.com.

Market Trends and Investor Strategies

The sale occurred during a broader cryptocurrency market downturn, led by Bitcoin's declining price. Amid market volatility, many investors are shifting to stablecoins like USDT to safeguard capital.

In a related trend, Lookonchain noted another investor who sold 150 billion PEPE tokens, incurring a $219,000 loss, while retaining SHIB holdings. This showcases varying strategies as investors navigate turbulent market conditions, balancing profit-taking with confidence in future recoveries.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Shiba Inu Investor Nets $9.59M

Sujit Kumar

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.