Shiba

Shiba Inu

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 <li>1 <a>Lookonchain data revealed a trader who made 419% returns with Shiba Inu.</a></li>
 <li>2 <a>SHIB burn tracker revealed in its X post that there have been a total of 5,611,112 $SHIB tokens burned.</a></li>
</ul>
Blockchain analytics firm Lookonchain revealed in its latest X post that after being inactive for 3.5 years, a renowned diamond trader sold off SHIB tokens at a significant profit. This trader initially purchased 48.09 billion SHIB for 2 ETH valued at $2,625 on February 1, 2021.
Recently, the trader sold the SHIB holdings for 278.7 ETH, valued at $1.1 million, resulting in a substantial gain of 419 times the initial investment.
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 After being dormant for 3.5 years, the super diamond trader finally sold <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> at a profit. He spent 2 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($2,625) to buy 48.09B <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> on Feb 1, 2021, and sold it for 278.7 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($1.1M) just now, a gain of 419x!<a href="https://t.co/Pw9i9wbKcn" rel="noopener noreferrer nofollow">https://t.co/Pw9i9wbKcn</a> <a href="https://t.co/Qvp9wKpWCc" rel="noopener noreferrer nofollow">pic.twitter.com/Qvp9wKpWCc</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1795122453087207450?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 27, 2024</a>
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Transaction data revealed that this was an MEV bot transaction executed at 03:20 PM UTC on May 27. This incident demonstrates how savvy traders can profit in the crypto market.
<h2 class="wp-block-heading" id="strong-shib-burn-increased-is-it-a-good-signal-strong">SHIB Burn Increased: is it a Good Signal?</h2>
As per the latest update of Shiburn in the last 24 hours, the burn rate of<a href="https://www.thecoinrepublic.com/2024/05/02/shibarium-set-for-major-upgrade-which-turn-will-shiba-inu-price-take-from-here/" target="_blank" rel="noopener noreferrer nofollow"> Shiba Inu </a>is up by 83.5% and stood at 5,611,112.
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 HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> Price: $0.00002532 (1hr -0.63% ▼ | 24hr 3.70% ▲ ) Market Cap: $14,888,191,151 (3.19% ▲) Total Supply: 589,273,529,519,359 TOKENS BURNT Past hour: 88,172 (1 transaction) Past 24Hrs: 5,611,112 (83.5% ▲) Past 7 Days: 46,369,675 (53.52% ▲)— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1795258738309247030?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 28, 2024</a>
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In the past week, the burn rate has increased by 53%. The burning program aims to reduce the abundant supply of SHIB tokens, making them rarer and potentially more valuable over time.
<h3 class="wp-block-heading" id="strong-shiba-inu-on-the-technical-chart-strong">Shiba Inu on the Technical Chart</h3>
The technical chart of Shiba Inu price has experienced profit booking from the beginning of March and has undergone a correction phase. However, the price is taking support on the moving averages, showcasing buyers’ support. 
<a href="https://in.tradingview.com/chart/SHIBUSDT/e6jy9xa8-SHIB/" rel="noopener noreferrer nofollow"></a> <a href="https://in.tradingview.com/u/writer12_gsm/" rel="noopener noreferrer nofollow"></a> <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
SHIB crypto price has been trading above the key moving averages, indicating a bullish momentum. The MACD formed green histograms, and a bullish crossover occurred between the MACD and Signal lines.
When writing, Shiba Inu traded at 0.00002627 with an intraday gain of 2.86%. Additionally, as Shiba Inu is an Ethereum ecosystem coin, it may also benefit from the approval of an Ethereum ETF.

A Diamond Trader Made 419% Gains Out of Shiba Inu (SHIB)

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