Shiba

FOMO

Shiba Inu

Spot

<ul>
 <li><strong>The whale profits $3.2M from SHIB tokens after 2.6 years of holding</strong></li>
 <li><strong>The whale bought these SHIB tokens from Coinbase and DEXs at an average price of $0.000008468.</strong></li>
</ul>
<p>A significant Shiba Inu transaction has caught the crypto community’s attention as a major investor, identified by the wallet address 0x541, moved all 197.99 billion SHIB tokens, worth approximately $4.88 million, to Coinbase. This action follows six months of inactivity with the token, with the sale price at $0.00002463.</p>
<p>The <a href="https://thenewscrypto.com/shiba-inu-whale-moves-3-trillion-shib-to-robinhood-what-to-expect/" target="_blank" rel="noopener noreferrer nofollow">whale</a> initially acquired these SHIB tokens from Coinbase and decentralized exchanges at an average price of $0.000008468, investing about $1.68 million between October 2021 and September 2023. If the whale proceeds with selling the tokens at the current price, they stand to gain an estimated profit of $3.2 million, representing a 191% increase after holding the tokens for 2.6 years.</p>
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 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">A whale just took a $3.2M (x2) profit from <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> after 2.6 years!<br><br>The whale bought 199B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> (est. cost: $1.68M) from <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> and DEX between Oct 10, 2021, and Sep 11, 2023,<br><br>And then deposited all <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> (now $4.88M) to <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Coinbase</a> 3 hours ago, realizing an est. profit of $3.2M… <a href="https://t.co/rMkMf7Z13i" rel="noopener noreferrer nofollow">pic.twitter.com/rMkMf7Z13i</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1791285621669155238?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 17, 2024</a>
 </blockquote>
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<p>In a previous transaction, this whale experienced a loss of approximately $176,000. They had purchased 138.568 billion SHIB at an average price of $0.000008385, mostly after the Shiba Inu price dropped following Vitalik Buterin’s $1 billion donation of Shiba Inu to India for COVID relief in May 2021. However, the whale sold these tokens at $0.000007117 on September 26, 2021, resulting in a $176,000 loss, just before the SHIB price hit an all-time high.</p>
<p>Despite this recent large-volume transaction, SHIB’s market value has demonstrated volatility, with a 2.88% decline over the past day after an 8% rally. At the time of writing, <a href="https://thenewscrypto.com/shiba-inu-shib-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> traded at $0.00002433 with a market cap of $14.3 billion. However, it has shown a 3.5% increase over the past week.</p>
<h3 class="wp-block-heading" id="h-is-the-hype-around-meme-coins-cooling-off">Is the Hype Around Meme Coins Cooling Off?</h3>
<p>Meme coins are notorious for their extreme volatility and the waves of FOMO they generate, particularly during <a href="https://thenewscrypto.com/shiba-inu-team-launches-shibaswap-on-shibarium-boosting-shib-ecosystem/" target="_blank" rel="noopener noreferrer nofollow">bullish market</a> phases, as retail investors seek high returns.</p>
<p>This week, while most memecoins showed little movement, several leading tokens by market cap recorded substantial gains. For instance, FLOKI surged by 9.53% in a single day. Despite lagging behind some competitors, Shiba Inu and Dogecoin (DOGE) continue to dominate 70% of the memecoin market.</p>
<p>Additionally, PEPE saw a 6.81% increase over the past 24 hours, recovering from a recent slump. The overall market turned green on Thursday, with Bitcoin reaching a new weekly high. Observers are keen to see if SHIB and DOGE will follow this upward trend.</p>

Whale Takes Significant Profit from SHIB After Extended Hold

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TheNewsCrypto

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