Shiba Inu Whale Who Made $145 Million In 2021 Loses $13.5 Million, Here’s How

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As a seasoned researcher with years of experience tracking the cryptocurrency market, I’ve seen my fair share of dramatic rises and falls. The story of this Shiba Inu whale is one that resonates deeply with me, not just because of its financial implications, but also due to the human element involved.

Unfortunately, a wealthy Shiba Inu (SHIB) investor, who had amassed an astounding $145 million in 2021 through SHIB trades, is now grappling with significant financial losses. Following a string of risky meme coin investments, this influential whale has watched as approximately $13.5 million evaporated from their portfolio.

Shiba Inu Millionaire Faces Setbacks In Recent Trades

On September 18th, last Wednesday, the AI-driven analytics platform Spot On Chain announced that a significant Shiba Inu whale had taken a daring step by exchanging 1,003 ETH tokens worth approximately $2.31 million for an astounding 2.86 billion NEIRO tokens.

The significant surge in cryptocurrency trading was fueled by NEIRO’s recent bullish trend. At that point, the meme coin saw a remarkable increase of up to 17 times its original value, indicating high confidence and enthusiasm among investors regarding its future prospects. As per data from Spot On Chain, an unidentified SHIB whale carried out three cryptocurrency transactions over the last few days, with two resulting in a loss of approximately $13.48 million.

While one of the losing trades involved the ETH and NEIRO swap, the other was identified as a SHIB trade. Additionally, the whale’s loss on the NEIRO trade coincided with a 50% crash in the NEIRO Ethereum token this week. This significant trade loss is unexpected, given the Shiba Inu whale’s reputation for making profitable trades. 

Previously, during the recent surge in prices for SHIB tokens from 2021 to early 2022, a large Shiba Inu investor accumulated approximately $145 million in profits. Yet, the recent losses suffered in both NEIRO and SHIB trades indicate a change in fortune for this whale, highlighting the erratic and unforeseeable character of meme coins within the market.

Reason Behind SHIB Whale’s NEIRO Trade

As someone who has been closely following the cryptocurrency market for several years now, I must say that this week’s surge in NEIRO’s price is quite remarkable. With a whopping increase of over 1,620%, it’s hard not to take notice. This sudden spike can be attributed to an unexpected endorsement from Justin Sun, the creator of Tron (TRX). While I have seen many instances where celebrity or influential figures’ endorsements drive up the price of certain coins, this one seems particularly intriguing given its magnitude. It goes to show that even the most unanticipated events can significantly impact the volatile world of cryptocurrencies. As always, it’s essential to do thorough research and exercise caution when investing in these digital assets.

Moreover, it was noticed that NEIRO experienced another price hike following Binance‘s announcement of its intention to list the cryptocurrency. As a result of this listing, NEIRO – with an initial market cap of approximately $12 million – witnessed a significant jump to over $350 million in market capitalization within just one day.

According to CoinGecko’s data the price of NEIRO is now trading at $0.00085, experiencing a price surge of 1,762% over the past week. Its market capitalization has also risen to approximately $362.7 million. 

The positive effects of Binance listing NEIRO and Sun’s indirect approval have strengthened optimism towards NEIRO. This could encourage big investors like the previous SHIB whale to heavily invest in this meme coin. Despite the crypto whale experiencing a significant loss from this high-risk transaction, he also managed to earn a modest profit from his recent Fetch.ai (FET) trade.

This trade, which generated an unrealized profit of $715,000, representing a more than 20.7% gain, occurred after the whale swapped its losing SHIB for 3.114 million FET. 

Shiba Inu Whale Who Made $145 Million In 2021 Loses $13.5 Million, Here’s How

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2024-09-20 02:41