Big Spender Returns to Accumulate Shiba Inu According to On-Chain Data 😲
A wealthy individual who previously made a staggering $120 million on Shiba Inu (SHIB) is back in business, accumulating the meme coin once again, as revealed by on-chain data analysis.
Shiba Inu Super Big Winner Makes Major SHIB Purchases 🚀
- The blockchain monitoring company Lookonchain has identified a significant SHIB investor who recently spent 4,849 Ethereum (ETH), worth $18.44 million, to acquire a whopping 715.9 billion SHIB coins.
According to Lookonchain, this investor made an initial investment of around $400,000 to purchase 5.5 trillion SHIB tokens in the early stages and managed to sell them for approximately $121 million at the peak, reflecting an extraordinary profit of over $120 million!
Multiple Entities Join the SHIB Buying Spree 🐶
- Not stopping at one big spender, Lookonchain also detected nine other wallets connected to two entities that engaged in substantial SHIB acquisitions.
These wallets, attributed to two whales, collectively spent $35.2 million to procure 1.356 trillion SHIB at an average price of $0.00002596 on June 5th, illustrating a strong bullish sentiment towards SHIB.
SHIB Price Update and Solana Network Activity 📈
- As of the latest data, SHIB is trading at $0.00002604, marking a 6.7% increase in the past 24 hours, indicating renewed interest and positive market sentiment.
Additionally, Lookonchain also noted a crypto whale on the Solana (SOL) network facing potential six-figure losses due to their continued accumulation of the sloth-inspired memecoin SLERF.
Solana Whale’s SLERF Losses Revealed 🦥
- The whale withdrew 2.91 million SLERF ($923,000) and 2,280 SOL ($378,000) from Gateio on June 4th, following which they invested 2,281 SOL ($378,000) to purchase 1.17 million SLERF.
Since April 25th, this investor has acquired 11.9 million SLERF tokens ($4.09 million) at an average price of $0.3432, resulting in a current loss of $266,000.
Positive Turn as SLERF Price Rises 🚀
- Despite facing losses initially, the whale seems to be in a better position now, with Slerf trading at $0.40 at the time of writing, showing a notable increase of over 22% in the past 24 hours.
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Featured Image Credit: Shutterstock/Aleksandra Bataeva 📸
Hot Take: Crypto Whales Shake Up the Market Once Again 🌊
As deep-pocketed investors continue to make significant moves in the crypto market, the recent resurgence in SHIB and SLERF purchases showcases the ongoing excitement and activity within the meme coin space.
Stay tuned for more updates on market trends and whale movements as the crypto rollercoaster ride continues!
Sources:
Lookonchain SHIB Transaction Report,
Lookonchain SHIB Whale Activity Report,
Lookonchain SOL Whale Analysis Report
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