Shiba Inu Bull Run Helps Whale Net Millions In Profit, SHIB Price ATH in Sight?

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As a seasoned analyst with years of experience navigating the volatile cryptocurrency market, I find myself intrigued by the recent maneuvers of Shiba Inu whales. The sale of 100 billion SHIB coins by one such whale, resulting in profits of over $123 million, is an astute reminder of the potential rewards that lie within this space. However, it’s important to remember that these whales are not ordinary investors; they have deep pockets and can afford to take on higher risks.

Today, there’s been a lot of optimism in the meme coin market. A large Shiba Inu investor, often referred to as a whale, has drawn attention due to his investment strategies. Notably, according to recent data from blockchain, this astute whale sold an astonishing 100 billion SHIB coins during the coin’s price surge, potentially earning a substantial profit. This event has ignited discussions in the market about the future direction of the crypto’s prices, leaving investors wondering if there’s more growth potential for the token.

Shiba Inu Smart Whale Makes Massive Profits Amid Bull Run

Based on Etherscan’s data from November 12th, it appears that a substantial investor (often referred to as a “whale”) moved 100 billion coins, valued at approximately $2.85 million, to the digital exchange Gemini. This move was likely made during Shiba Inu’s market surge, with the intention of realizing profits. According to the data, the whale’s wallet address (0xd6B) executed a significant transaction that ended up in the stated crypto exchange, suggesting a profitable outcome for this investor.

Significantly, according to Lookonchain data, this investor bought 15.28 trillion SHIB for approximately $3,800 back in August 2020. At the peak of the meme coin, this investment was equivalent to around $1.22 billion. Even after selling off some coins, the same address currently holds about 2.5 trillion SHIB, worth around $75.2 million. This represents a profit of roughly $123 million on their dog-themed crypto investment. It’s worth noting that this large investor’s continued ownership suggests a belief in the asset’s potential for further growth.

As an analyst, I’m observing another intriguing development in the meme coin world. Specifically, 0xa145B, a prominent player often referred to as a ‘whale’, sold approximately 83.36 billion coins, valued at roughly $2.42 million to the cryptocurrency exchange titan Binance. Despite this sale, 0xa145B still retains a substantial amount of these tokens, around 373.26 billion coins, currently worth over $10.82 million. This transaction, coupled with the continued ownership, fuels optimism regarding the token’s future price fluctuations. In essence, such trades are stirring a wave of market optimism for this well-known dog-themed meme token.

SHIB Price Eyes New ATH?

In the aftermath of Bitcoin reaching a new all-time high (ATH), there’s a widespread optimism for Shiba Inu also hitting its ATH, as the entire cryptocurrency market is experiencing extraordinary growth following the U.S. elections. At the moment of writing, SHIB was trading at $0.00002901, marking a nearly 16% increase in the last 24 hours. Moreover, its weekly gains amounted to 65%. These indicators suggest that Shiba Inu might be gearing up for a bull market, fueled by growing market interest in the meme coin.

Moreover, there was a significant increase in the burning rate of Shiba Inu tokens on the previous day, as close to 500 million coins were eliminated. This positive trend supports the coin’s ongoing daily price rally.

Furthermore, a recent analysis from CoinGape Media suggests that the Shiba Inu coin’s surge may not have reached its peak yet, with potential price increases on the horizon. If the coin continues to rise and surpasses the resistance levels at $0.000028 and $0.000046, a new all-time high (ATH) could still be attainable. Cryptocurrency fans are closely watching Shiba Inu in anticipation of additional bullish trends based on the latest market data.

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2024-11-12 11:02