In a significant move that has stirred the crypto community, an early investor holding a substantial amount of Shiba Inu (SHIB) tokens has recently made a notable transfer. According to data from Etherscan, this whale investor has moved a staggering 200 billion SHIB tokens to exchanges within the last five days, equivalent to approximately $5 million. Despite still holding a significant amount, this transfer signifies a strategic profit-taking move amidst a recent surge in SHIB’s price.
The Early Investment
The journey of this mysterious whale with Shiba Inu dates back four years, when they exchanged 10 ETH, valued at $3,500 at the time, for an astounding 15.277 trillion SHIB tokens. Since then, the investor has actively engaged in trading the meme token, strategically navigating its price fluctuations.
Notably, heightened activity in the investor’s portfolio was observed from August to October 2021. During this time, SHIB’s price skyrocketed by 1,382%, reaching an all-time high of $0.00008854 per token. Seizing the opportunity, the investor offloaded over half a trillion SHIB tokens, capitalizing on the significant price surge.
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Resumption of Purchases
Despite periods of selling, the investor resumed purchasing SHIB tokens approximately a year ago, with the last recorded purchase made on Nov. 18, 2022. This demonstrates a strategic approach to managing their investment portfolio, alternating between buying and selling based on market conditions.
However, the most recent wave of sales commenced earlier than five days ago and has garnered significant attention from market observers. With SHIB experiencing a remarkable 300% price jump, this strategic profit-taking move by the early investor signals a prudent approach to capitalizing on market gains.
