Shiba Inu Investment Yields $3.2 Million for Savvy Whale: Here’s How

Why Shytoshi Kusama Believes Shiba Inu Is Just Getting Started

A whale has netted a $3.2 million profit from Shiba Inu after holding the cryptocurrency for 2.6 years. Amid ongoing SHIB accumulation by other large holders and significant market activity, this successful trade highlights the potential for substantial returns in the volatile crypto market.

Whale Capitalizes on Shiba Inu Investment

As reported by Spot On Chain, a crypto whale made a highly profitable investment in Shiba Inu (SHIB), earning a $3.2 million gain after holding the asset for 2.6 years. This period saw the whale initially purchasing 199 billion SHIB between October 2021 and September 2023, with the investment valued at approximately $1.68 million. The whale recently transferred all SHIB holdings to Coinbase, marking an impressive 191% profit.

Detailed Investment Strategy

Spot On Chain detailed the whale’s strategic accumulation of SHIB tokens from both Coinbase and decentralized exchanges. This accumulation occurred from October 10, 2021, to September 11, 2023, at an average price of $0.000008468 per token. The total investment during this period was estimated at $1.68 million.

Related article: Shiba Inu Profit Propels Trader to Invest in a Different Coin

Early Loss and Subsequent Recovery

Despite the ultimate success, the whale experienced a significant setback in an earlier trade. On May 12, 2021, Ethereum co-founder Vitalik Buterin donated $1 billion worth of SHIB to India’s COVID relief fund, causing a drop in SHIB’s price. The whale purchased 138.568 billion SHIB at an average price of $0.000008385 during this dip.

However, the whale sold these tokens prematurely on September 26, 2021, at $0.000007117 per token. This sale, totaling $1.16 million, resulted in a loss of approximately $176,000, a -15.1% return on the initial investment. The early exit proved costly in hindsight, as SHIB’s price skyrocketed shortly after.

Resilience and Market Volatility

The whale’s story demonstrates resilience in the face of market volatility. After the initial loss, the whale continued to invest in SHIB, eventually reaping substantial profits. This case underscores the importance of timing and patience in cryptocurrency investments.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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