Shiba Inu Whale Sells 100 Billion SHIB Coins Amid Bull Run, Making Profits
A smart whale in the Shiba Inu community made significant profits during the bull run of the cryptocurrency, selling 100 billion SHIB and making a profit of $2.85 million in the process. The Shiba Inu token has seen a surge in interest and value in recent months, with the whale taking advantage of this to sell a significant portion of their holdings.
The smart whale transferred the 100 billion coins to the crypto exchange Gemini, which was worth a total of $2.85 million at the time of the sale. The whale had initially purchased the coins in August 2020 for a total of $3,800, which is now worth nearly $1.22 billion at the peak of the meme coin’s value.
The smart whale still holds 2.5 trillion coins, worth $75.2 million, which represents a profit of $123 million on the cryptocurrency. The whale’s continued holding of the coins shows a level of market confidence in the asset and its potential to continue to grow in value. This sale is part of a wider trend of successful trading strategies in the meme coin market, with other whales also making profits during the bull run.
The combination of successful trading strategies, increased market interest, and bullish metrics such as rising burn rates could indicate a potential new all-time high (ATH) for the Shiba Inu token.
Source
<p>The post Shiba Inu Whale Cashes In Big Profits Amid Bull Run first appeared on CoinBuzzFeed.</p>
