๐ฑ๐๐$SHIB trader who made $120M just bought $18M Shiba Inu๐ฑ๐๐
After making over $120 million trading #ShibaInu ($SHIB ), one cryptocurrency trader has made another strong bet โ this time spending more than $18 million to buy over 700 Shiba Inu in a matter of hours, reflecting increased confidence of SHIB whales in the meme crypto assetโs future.
Specifically, the investor had bought 5.5 trillion SHIB early on for $400,000 and then sold them at two price peaks, profiting $121 million, and now they used 4,849 Ethereum (ETH), worth about $18.44 million, to buy 715.9 billion #SHIB , according to the data shared by Lookonchain in an X post on June 5.
Indeed, the crypto traderโs smartly placed purchases and sales, which involved buying SHIB at an average price of roughly $0.0000000727 back in 2021 and then selling at the right moment, amid two significant price peaks, suggest that this investor, in particular, is confident that a price peak will happen again.
It is also worth noting that early Bitcoin (BTC) adopter and professional crypto trader Davinci Jeremie strongly believes in SHIBโs bright future as well, recently sharing his prediction of Shiba Inu rallying and hitting $0.00006 soon, as Finbold reported earlier.
Shiba Inu price analysis
Meanwhile, SHIB was at press time changing hands at the price of $0.00002563, which represents a 7.60% gain in the last 24 hours, as it moves to reverse the 5.13% drop from across the previous seven days and adding up to the 6.26% advance over the past month, as per data on June 5.
Inevitably, the question arises โ why is Shiba Inu going up? Notably, one explanation for SHIBโs recent price recovery is the fact that it is happening against the backdrop of a significantly higher number of new accounts on Shiba Inuโs blockchain, Shibarium, soaring by over 3,000% in 24 hours.
