A savvy whale has made huge profits in the Shiba Inu bull market, sparking speculation that the SHIB price is about to hit new highs.
As today's meme coin market shows positive momentum, a Shiba Inu whale has caught attention for its trading strategy. Recent on-chain data indicates that a savvy whale sold up to 100 billion SHIB during the token bull market, gaining considerable profits.
This event has sparked speculation in the market about the future price trajectory of cryptocurrencies, with investors wondering if the token has more momentum.
Shiba Inu smart whale earns huge profits in the bull market according to
On November 12, Etherscan's on-chain data revealed that a savvy whale sold 100 billion coins to the cryptocurrency exchange Gemini during the Shiba Inu bull market, worth $2.85 million, to take profits. According to the data, the whale address 0xd6B made a substantial transfer to the aforementioned cryptocurrency exchange and profited from it. Notably, according to Lookonchain data, this whale spent $38,000 back in August 2020 to purchase 152.8 trillion SHIB, which at the peak of the meme coin amounted to nearly $1.22 billion.
Moreover, after the sell-off, the same address still holds 250 trillion SHIB, valued at $75.2 million, marking a profit record of $123 million on the dog-themed meme cryptocurrency. Notably, the existing holdings of this savvy whale indicate strong confidence in the potential for further increases in the asset's value. Meanwhile, in another similar legendary story, meme coin whale 0xa145B was recorded selling 83.36 billion tokens valued at $2.42 million to the cryptocurrency exchange giant Binance. However, even this whale still holds 37.326 billion tokens worth $10.82 million, reinforcing optimism about the future trajectory of this token. Overall, the aforementioned trading strategies have ignited market optimism for the well-known dog-themed meme token.
Is the SHIB price expected to hit new highs?
It is worth noting that as BTC recently hit a new high, the cryptocurrency industry has surged unprecedentedly after the U.S. elections, and the market sentiment for Shiba Inu reaching ATH is prevalent across the industry. At the time of writing, the SHIB price is $0.00002901, rising nearly 16% in the last 24 hours. Additionally, as of this writing, the token's weekly gain totals 65%. Overall, driven by increased market interest in this asset, meme tokens are showing signs of a bull market.
Furthermore, due to nearly 500 million tokens being burned yesterday, the Shiba Inu burn rate has surged significantly. This positive indicator aligns with the token's ongoing intraday price increase. Additionally, CoinGape Media's recent analysis of SHIB price indicates that the momentum of this meme token is not over, and there is more room for upward movement. Given that the token maintains its upward momentum, breaking through the $0.000028 and $0.000046 thresholds, reaching a new historical high is just around the corner. Following the latest market statistics, cryptocurrency enthusiasts continue to monitor whether the token will experience further bullish trends.
#比特币搜索热度攀升
