Shiba Inu whale has garnered significant attention for making a massive profit during the meme coin’s recent bull run. According to on-chain data from Etherscan, a smart whale sold a staggering 100 billion SHIB coins, valued at $2.85 million, to the Gemini crypto exchange on November 12. This move comes as Shiba Inu (SHIB) has shown signs of strong upward momentum, sparking speculation about the token’s future price trajectory.
Shiba Inu Whale’s Profitable Moves
The whale in question, identified by the address 0xd6B, capitalized on Shiba Inu’s market surge, selling 100 billion SHIB coins while locking in significant profits. This trade marked a notable moment in the ongoing bull run for SHIB, with the whale still holding an impressive 2.5 trillion coins, worth approximately $75.2 million. Originally, the same whale had purchased 15.28 trillion SHIB in August 2020 for just $3.8K—amounting to a total investment of $1.22 billion when the meme coin reached its peak. Despite cashing out substantial amounts, the whale’s current holdings show a total profit of $123 million, reinforcing a sense of market confidence in Shiba Inu’s future.
Meanwhile, another whale, 0xa145B, made headlines by selling 83.36 billion SHIB worth $2.42 million to Binance, yet still holding a massive stash of 373.26 billion SHIB, valued at $10.82 million. This parallel trade action by multiple large investors suggests growing optimism about Shiba Inu’s long-term potential.
SHIB Price Poised for New ATH?
The recent surge in Shiba Inu’s price, coupled with these whale movements, has left investors wondering whether SHIB is on track to hit a new all-time high (ATH). As of the latest data, SHIB is trading at $0.00002901, a 16% increase in just 24 hours and a 65% gain over the past week. The meme coin’s bullish price action aligns with broader market optimism, particularly following Bitcoin’s recent ATH and the cryptocurrency sector’s continued growth in the wake of the U.S. elections.
The recent spike in SHIB’s burn rate, with nearly half a billion coins destroyed in a single day, has further fueled bullish sentiment. This reduction in supply, coupled with rising demand, suggests that SHIB may continue its upward trajectory in the short term. Additionally, recent technical analysis by CoinGape Media suggests that Shiba Inu could soon break through key resistance levels at $0.000028 and $0.000046, with a new ATH potentially within reach if the bullish trend persists.
Looking Ahead: A Bright Future for Shiba Inu
With increased market interest and a flurry of whale activity, Shiba Inu seems to be gaining momentum, reinforcing investor confidence in its future. As whales continue to accumulate and strategic burns reduce circulating supply, SHIB’s prospects appear favorable. The meme coin market, buoyed by Shiba Inu’s performance, is under the watchful eye of investors eager to see whether this rally will continue and whether Shiba Inu can achieve new milestones in the coming weeks.
As the Shiba Inu saga unfolds, all eyes are on this dog-themed token, as its performance could offer insights into the broader trends within the meme coin market and the cryptocurrency sector as a whole.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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