SHIB trader who made $120M just bought $18M Shiba Inu
After making over $120 million trading Shiba Inu (SHIB), one cryptocurrency trader has made another strong bet – this time spending more than $18 million to buy over 700 Shiba Inu in a matter of hours, reflecting increased confidence of SHIB whales in the meme crypto asset’s future. Specifically, the investor had bought 5.5 trillion SHIB early on for $400,000 and then sold them at two price peaks, profiting $121 million, and now they used 4,849 Ethereum (ETH), worth about $18.44 million, to buy 715.9 billion SHIB, according to the data shared by Lookonchain in an X post on June 5. SHIB trader transaction data. Source: Lookonchain Indeed, the crypto trader ’s smartly placed purchases and sales, which involved buying SHIB at an average price of roughly $0.0000000727 back in 2021 and then selling at the right moment, amid two significant price peaks, suggest that this investor, in particular, is confident that a price peak will happen again. ...