Shiba

Token

Bone ShibaSwap

The Graph

Shiba Inu

<div class="finbold">
 <p class="paragraph">A cryptocurrency trader who lost over $2 million buying Shiba Inu (SHIB) at the top and selling at the bottom in the last market <a rel="noopener noreferrer nofollow" title="cycle" href="https://thebittimes.com/tag/cycle.html">cycle</a> has bought $1 million worth of PEPE.</p>
 <p class="paragraph"><em>Lookonchain</em> reported this trader’s recent purchase and the historical context in an X post on May 29.</p>
 <p class="paragraph">As reported, the address ‘0xD21…07010‘ withdrew 67 billion PEPE, worth $1.02 million, from the crypto exchange OKX. The purchase occurred on May 29 at 08:21 am UTC, followed by smaller purchases of five other tokens.</p>
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 <p class="paragraph">In particular, Fetch (FET), SingularityNET (AGIX), Arbitrum (ARB), The Graph Token (GRT), and Bone ShibaSwap (BONE), all with value worth less than $500,000. Additionally, the trader was already holding 35.27 billion SHIB, worth $980,000.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="461" src="https://cdn.thebittimes.com/images/2024/05/29/cacd96b4b9ba834eee1dd272d5b4617a.webp" alt="" class="wp-image-179234" srcset="https://cdn.thebittimes.com/images/2024/05/29/cacd96b4b9ba834eee1dd272d5b4617a.webp 1024w, https://cdn.thebittimes.com/images/2024/05/29/cacd96b4b9ba834eee1dd272d5b4617a.webp 300w, https://cdn.thebittimes.com/images/2024/05/29/cacd96b4b9ba834eee1dd272d5b4617a.webp 768w, https://cdn.thebittimes.com/images/2024/05/29/cacd96b4b9ba834eee1dd272d5b4617a.webp 1536w, https://cdn.thebittimes.com/images/2024/05/29/cacd96b4b9ba834eee1dd272d5b4617a.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ERC-20 txs: 0xD21d0Ff68445891498E21F1068eAE04C5A207010. Source: <em>Etherscan</em> / Finbold
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 </figure>
 <h2 class="wp-block-heading" id="h-over-2-million-losses-trading-shib-in-2021-2022">Over $2 million losses trading SHIB in 2021-2022</h2>
 <p class="paragraph">However, on-chain data shows a past millionaire losses to this same trader’s address with the meme coin Shiba Inu. The trader purchased 40.9 billion SHIB during the bull market hype in 2021, worth $2.98 million.&nbsp;</p>
 <p class="paragraph">This was likely a decision under the ‘fear of missing out’ (FOMO), considering SHIB was at its highest levels after a remarkable performance—similar to what PEPE represents in this <a rel="noopener noreferrer nofollow" title="cycle" href="https://thebittimes.com/tag/cycle.html">cycle</a>.</p>
 <p class="paragraph">As the bear market took over, this trader held their SHIB position until it neared its lowest value in 2022. At this point, ‘0xD21…07010’ capitulated, liquidating the entire position with 85.5% losses, effectively losing $2.55 million.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="499" src="https://cdn.thebittimes.com/images/2024/05/29/a2e6ca6024001ff1ca1021f820e978c4.webp" alt="" class="wp-image-179235" srcset="https://cdn.thebittimes.com/images/2024/05/29/a2e6ca6024001ff1ca1021f820e978c4.webp 1024w, https://cdn.thebittimes.com/images/2024/05/29/a2e6ca6024001ff1ca1021f820e978c4.webp 300w, https://cdn.thebittimes.com/images/2024/05/29/a2e6ca6024001ff1ca1021f820e978c4.webp 768w, https://cdn.thebittimes.com/images/2024/05/29/a2e6ca6024001ff1ca1021f820e978c4.webp 1536w, https://cdn.thebittimes.com/images/2024/05/29/a2e6ca6024001ff1ca1021f820e978c4.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Trader’s SHIB Buy/Sell history in 2021-2022. Source: <em>Lookonchain</em>
  </figcaption>
 </figure>
 <p class="paragraph">This trader’s story serves as a cautionary tale on the risks of letting emotion dominate while trading crypto. Cryptocurrencies are highly volatile assets, and bad decisions could bring unrecoverable losses as fast as occasional gains.</p>
 <p class="paragraph">Furthermore, meme coins like SHIB and PEPE are moved by hype, FOMO, and greed without a clear value proposition. These tokens increase the risk of ruin, as observed in this trader’s historical results. Now, the market wonders if history will repeat itself, marking a price top for PEPE and the other trending tokens.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/trader-who-lost-2m-with-shib-last-cycle-now-buys-1m-of-pepe-tbt90295.html">https://thebittimes.com/trader-who-lost-2m-with-shib-last-cycle-now-buys-1m-of-pepe-tbt90295.html</a></p>

Trader who lost $2M with SHIB last cycle now buys $1M of PEPE

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