Shiba Inu Early Investor Nets $9.59M Profit After Selling Nearly 400B SHIB Tokens

Following the latest market drop an early Shiba Inu investor sold nearly 400 billion SHIB tokens, netting a $9.59 million profit.

An early Shiba Inu (SHIB) investor has sold nearly 400 billion SHIB tokens, netting a profit of $9.59 million from the recent sales.

Popular smart money platform Lookonchain brought the transaction to the public’s attention in a tweet on Monday.

According to the platform, the user behind the transaction was an early SHIB acquirer who purchased the meme coin on August 6, 2020, a few days after the token was launched. At the time, the user bought a total of 15.28 trillion SHIB for theСтоимость мемного токена на момент покупки составила 0.000000000248 доллара за токен, общая сумма покупки составила 3.8 доллара. По данным Lookonchain, стоимость купленных тогда Shiba Inu достигла максимума в 1.22 миллиарда долларов, когда токен достиг пиковой цены в октябре 2021 года.

Details of the Latest Shiba Inu Transaction

The user has since been selling SHIB, with the latest sales being recorded in the past few hours on Monday. According to data from Lookonchain, the user moved nearly 250 billion SHIB in three transactions to the Gemini crypto exchange. The three transactions involved 10 million SHIB, 99.98 billion SHIB, and 150 billion SHIB, respectively.

A whale sold 250B $SHIB($6.05M) for profit in the past hour!

The whale spent $3.8K to buy 15.28T $SHIB($1.22B at the peak) as early as August 6, 2020.

This whale currently holds 2.15T $SHIB($52.18M), with a total profit of $109M on $SHIB.

https://t.co/BWxcnWuwFR pic.twitter.com/aQZFPyhYSv

— Lookonchain (@lookonchain) December 19, 2024

A few minutes after the Lookonchain disclosure, the user moved another 150 billion SHIB to Gemini, bringing the total tokens transferred to the exchange in the past few hours to 399.99 billion SHIB. For context, tokens moved to exchanges are usually being sold for fiat or being swapped for other assets.

With Shiba Inu currently trading at around $0.000024, the nearly 400 billion SHIB tokens are valued at approximately $9.6 million. These 400 billion tokens were acquired at an aggregate price of $99.19 in August 2020, resulting in a jaw-dropping profit of over $9.59 million from the recent sale.

According to data from Etherscan, the user has been selling SHIB over the past few weeks on both Crypto.com and Gemini. Despite this, the wallet still holds 2 trillion SHIB, which is currently valued at $48 million.

Investors De-Risking amid Ongoing Market Bloodbath

The recent sales come as the market is enduring an intense bloodbath, which is being led by Bitcoin. Notably, Shiba Inu has not been spared in the bearish market, with the meme coin witnessing a decline of 4.97% in the past 24 hours.

Investors are reducing their exposure to risk assets by converting them to stablecoins, such as USDT, until the bloodbath concludes.

In a separate tweet, Lookonchain revealed how a user hurriedly moved 150 billion PEPE tokens, valued at $2.72 million, to Binance in a bid to mitigate their losses incurred from the latest market crash.

As reported earlier, the user acquired the 150 billion PEPE tokens for $2.94 million and 60 billion SHIB for $1.52 million from Binance on November 28.

However, following the recent drop, the user incurred a loss of $219,000 on their PEPE holdings and $136,000 on SHIB, according to Lookonchain. While the investor has liquidated their PEPE position, the user still holds all 60 billion SHIB, indicating their belief in Shiba Inu’s potential to recover.

DisClamier: This content is informational and not meant to be used as financial advice. Theឪពុកក្មេកក្មេកក្មេកក្មេកក្មេកក្មេកក្មេកក្មេកក្