Amid the positive trend in the cryptocurrency market, a Shiba Inu whale has attracted attention for his trading strategy. Recent on-chain data shows that the smart whale sold 100 billion SHIB during the coin’s price surge, netting a significant profit. The story has sparked speculation about the future price movement of SHIB, as investors question whether the token has any more momentum to grow.
Smart Shiba Inu Whale Makes Huge Profits During Price Rally
According to data from Etherscan on November 12, a smart whale sold 100 billion SHIB, worth $2.85 million, to the Gemini crypto exchange to profit from the Shiba Inu price rally. According to the data, the wallet address 0xd6B made this huge transaction, bringing in a significant profit.
Notably, according to data from Lookonchain, this whale spent $3,800 to buy 15.28 trillion SHIB since August 2020, which was later worth nearly $1.22 billion when the meme coin peaked. After multiple sell-offs, the address still holds 2.5 trillion SHIB, worth about $75.2 million, recording a total profit of $123 million from the Shiba Inu-inspired meme coin. This also shows the smart whale’s belief in the asset’s continued price appreciation potential.
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Meanwhile, in a similar story, another meme coin whale with the address 0xa145B was recorded selling 83.36 billion coins, worth $2.42 million, to major cryptocurrency exchange Binance. However, this whale still holds 373.26 billion SHIB, worth about $10.82 million, further reinforcing optimism about the token’s future price movements. Overall, the above trading strategies have fueled market optimism for the dog-inspired meme coin.
