This SHIB Millionaire Is Doubling Down on The Asset Following Price Surge

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This SHIB Millionaire Is Doubling Down on The Asset Following Price Surge – Crypto News

Published

12 months ago

June 5, 2024

Dripp

Digital assets have recorded a turnaround this week with meme coins like SHIB showing bullish activities in the last 24 hours. The market gain cuts across top crypto assets, meme coins, and decentralized finance (DeFi) protocols. Bitcoin is hovering near $71,000 while meme coins like Shiba Inu are attracting new inflows.

A crypto trader has spent $14.88 million to purchase SHIB in the last six hours as the price rebounds. According to crypto analytics platform, Lookonchain citing Etherscan data, a trader spent 4,849 ETH approximately $18.4 million to buy 715.9B SHIB. This comes after the price of SHIB rallied with other crypto assets today.

A $SHIB super big winner is buying $SHIB crazily, spending 4,849 $ETH($18.44M) to buy 715.9B $SHIB in the past 6 hours.

This guy spent only ~$400K to buy 5.5T $SHIB in the early stage and sold for ~$121M at 2 peaks.

He made more than $120M on $SHIB before, an amazing gain!😱… pic.twitter.com/iREp5jfj75

— Lookonchain (@lookonchain) June 5, 2024

Trader Made Millions From Shiba Inu

Previously the traders amassed a fortune from buying the meme token. The trader spent $400,000 to purchase 5.5T coins and sold it at two picks for $121 million. The transaction which saw him make more than $120 million attracted users to the token.

Recently bullish sentiments have shaped SHIB’s narrative with a large movement of assets recorded today. A whale who received 167 billion SHIB in 2021 made an additional 173 billion SHIB, Spotonchain wrote on X.

“An early buyer-linked whale just swapped 1K $WETH ($3.83M) for 149.3 $SHIB in the past hour! The whale’s last $SHIB activity was selling 167B $SHIB ($6.13M) 3 years ago. These tokens were received from a super early buyer who bought 5.16T $SHIB with only 45 $ETH ($63.7K) on Mar 1, 2021. The whale still holds 1,169 $WETH ($4.45M) and may buy more $SHIB”

SHIB Price Soars 8%

The price is Shiba Inu is up 8.2% today following positive intraday trading and a swing in market sentiments. These gains have reduced weekly losses to 5.1% placing monthly figures in the green zone at 3.1%. With the asset’s market capitalization at $15.2 billion, its daily trading volumes rallied 48%. Although SHIB remains 70% below its all-time high, bulls believe the coin could tap more milestones.