đ„đ„đ„ Trader Who Earned $8.2M from Shiba Inu Now Invests in This Coin
A savvy investor who made more than $8 million with Shiba Inu ($SHIB) has shifted his focus to another high-performing asset during the recent market frenzy.
Switching to Wrapped Bitcoin (WBTC)
Crypto tracking platform Spot on Chain highlighted the activities of a trader who earned $8.24 million from SHIB. According to the report, this investor started accumulating Wrapped Bitcoin (WBTC) after selling SHIB for a 106% return a month ago.
How Did Trader Make $8.24M From Shiba Inu?
Trader's Shiba Inu adventure took place between March 1 and March 31, during which time he purchased 533.6 billion SHIB tokens at 11 different addresses. This investment cost $7.75 million and the average purchase price per SHIB was $0.00001453.
The trader entered the SHIB market during an aggressive uptrend that started four days ago. Shortly after the acquisition, SHIB surpassed the $0.00002 level, reaching levels not seen in three years.
On the fifth day, SHIB reached $0.00004534 and the value of the trader's assets was $24,166,220. Despite the significant gain, the trader did not immediately cash out. Instead, he maintained his position as SHIB's price fluctuated, remaining above the $0.00003 average throughout March.
The trader, who could not make significant profits for 30 days, sold 533.6 billion SHIB tokens for DAI for approximately $16 million and made a profit of $8.24 million. The average liquidation price was $0.00003 per SHIB and yielded more than 106%.
Now Receiving $WBTC
In the last 24 hours, the crypto market has seen Bitcoin regain the $66,000 price level, impacting altcoins like Shiba Inu. However, the trader chose to explore new opportunities instead of reinvesting in SHIB.
The investor committed $16.22 million to purchase#WBTCand purchased it at an average price of $64,449 per token. Spot on Chain noted that this wallet recorded a profit of $380,000 in the last few hours during Bitcoin's rise.
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