An early Shiba Inu investor sold nearly 400 billion tokens during the ongoing market downturn, earning a profit of $9.59 million. The transaction was shared by Lookonchain, a platform that tracks smart money movements. According to Lookonchain , the wallet involved in this transaction belongs to an investor who purchased the digital asset shortly after the project launched. On August 6, 2020, this user acquired 15.28 trillion SHIB for just $3,800, paying an average price of $0.000000000248 per token. By October 2021, when the token reached its all-time high, the value of these holdings surged to $1.22 billion. Since then, the investor has steadily sold portions of their holdings, significantly profiting from the asset’s price appreciation over time. Recent Shiba Inu (SHIB) Sale Details The latest sale, completed in several transactions, involved nearly 400 billion tokens transferred to the Gemini exchange. Data from Lookonchain indicates three initial transactions totaling 250 billion SHIB, broken down into 10 million, 99.98 billion, and 150 billion tokens. Shortly after these transactions, the investor transferred another 150 billion SHIB to the same exchange, bringing the total to approximately 399.99 billion tokens. With the asset trading at around $0.000024 at the time of the sale, the 400 billion tokens were valued at $9.6 million. This represents a staggering profit, as the investor acquired these tokens for just $99.19 in 2020. Etherscan data reveals that this user has also conducted other sales on exchanges like Crypto.com and Gemini in recent weeks. Despite these large sales, the wallet still holds a balance of 2 trillion tokens worth about $48 million. Market Conditions and Broader Trends The investor’s decision to sell comes amid a broader cryptocurrency market downturn, led by Bitcoin’s declining price. The asset has not been immune to the bearish trend, as its value dropped massively during the recent dip. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Amid this market volatility, many investors are converting riskier assets into stablecoins like USDT to protect their capital. In a related move, Lookonchain reported another significant transaction, where an investor moved 150 billion PEPE tokens, valued at $2.72 million, to Binance in response to the market decline. Investor Strategies Amid the Dip The user behind the PEPE transaction had previously purchased 150 billion PEPE tokens for $2.94 million and 60 billion SHIB worth $1.52 million on November 28. However, following the recent market drop, they incurred losses of $219,000 on their PEPE holdings and $136,000 on their SHIB investment. While the PEPE tokens were sold, the investor retained their 60 billion tokens, signaling potential confidence in a recovery for the token. This latest sale highlights the strategic moves of early investors during turbulent market conditions. While some continue to offload their holdings to lock in profits or mitigate losses, others remain confident in the asset’s long-term potential, even during the ongoing market challenges. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Early Shiba Inu Investor Cashes In $9.5M During Recent SHIB Dip. Here’s how appeared first on Times Tabloid .
