He once made a huge profit of 145 million from Shiba Inu.
In the cryptocurrency market, various stories of people getting rich because of "Diamond hand" have always been talked about. "Diamond hand" refers to insisting on holding investments, regardless of market fluctuations or drastic changes in prices. Someone who still doesn’t sell easily.
There is such a well-known crypto whale who is known for his long-term holding of Shiba Inu Coin ($SHIB). From February 2021 to June 2022, he relied on his “diamond hands” to hold There is Shiba Inu Coin, which eventually made an exaggerated $145 million in the bull market.
Interestingly, although the whale still firmly held Shiba Inu Coin after that, until recently, his investment strategy seemed to have begun to change. He did not just hold Shiba Inu Coin ($SHIB), but chose more Diversified investment strategies, and also began to look for newly emerging currencies.
Giant whales are buying "these 2 coins"
According to a report from the on-chain data platform Spot On Chain, the whale chose to sell part of Shiba Inu Coin ($SHIB) on August 30 and used the funds sold to buy 2 emerging tokens: $NEIRO and Fetch.AI ($FET) purchased a total of 3.114 million $FET and 2.86 billion $NEIRO.
Image source: X Spot On Chain report
Judging from the data, the operation of the giant whale is undoubtedly correct. The $FET he bought has risen by about 20.7% since the purchase, bringing an unrealized profit of $715,000; and $NEIRO has even surged by 17 times, bringing in $1.07 million in unrealized profits in just 5 days.
$NEIRO, as an emerging meme currency, has successfully landed on several mainstream cryptocurrency exchanges in a short period of time, while $FET, as a blockchain solution focused on developing artificial intelligence-driven solutions, is fundamentally different. Favored by many investors who pay attention to technological innovation.
Of these two coins, one is a meme coin that is considered worthless and extremely risky, while the other has strong fundamentals and catches up with the most popular AI trend. The asset allocation can be said to have completely different styles.
Investment Risks
However, while most of the whale's recent investment moves have yielded good results, not every deal has been profitable.
Image source: X Spot On Chain report
Data from Spot On Chain shows that among the whale's four recent transactions, the other two transactions were to purchase another meme currency - $NEIROETH and a $SHIB. As a result, they lost more than 12.68 million US dollars. Even if In addition to the profits he later made from $NEIRO and Fetch.AI ($FET), it was not enough to compensate.
If he had not promptly exchanged part of the $SHIB for 3.114 million $FETs on August 30, this loss would have continued to expand.
This also reminds us that even experienced investors will face risks brought by market fluctuations, and the key is to have the ability to respond flexibly.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice. The analysts’ views are for reference only. Users should consider whether any opinions, views or conclusions in this article are consistent with their specific circumstances. Invest accordingly and do so at your own risk.
