Crypto Whale's SHIB Dump Eyeing FET’s Price Surge

  • An early SHIB investor swaps $3.5 million Shiba Inu tokens for $FET.

  • The move follows a 45.9% unrealized loss in recent trades.

  • The whale still holds $10 million in SHIB, potentially betting on a future rebound.

An early investor in Shiba Inu (SHIB) has shaken up their investment strategy by swapping a substantial amount of SHIB for Fetch.ai (FET). This move suggests the whale intends to capitalize on the recent rise in FET’s value while managing ongoing losses in SHIB.

Tracking platform Spot On Chain called attention to this investor’s move in a recent post on X. The analysis detailed how the whale had previously reaped massive profits from their early involvement in Shiba Inu. 

Specifically, the investor racked up $145 million in gains, a 5,201% return from trades made between February 2021 and June 2022. This early SHIB trading success story marked one of the most lucrative in the crypto space, turning a well-timed entry and exit to an enviable profit. However, recent investments in SHIB have not mirrored this historical success.

Since June 2024, the whale acquired 968.3 billion SHIB, but the holding has significantly decreased in value, leading …

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