Shiba

Ethereum

Millions

Bitcoin

Shiba Inu

Digital assets have recorded a turnaround this week with meme coins like SHIB showing bullish activities in the last 24 hours. The market gain cuts across top crypto assets, meme coins, and decentralized finance (DeFi) protocols. Bitcoin is hovering near $71,000 while meme coins like Shiba Inu are attracting new inflows. 
A crypto trader has spent $14.88 million to purchase SHIB in the last six hours as the price rebounds. According to crypto analytics platform, Lookonchain citing <a rel="nofollow" href="https://etherscan.io/token/0x95ad61b0a150d79219dcf64e1e6cc01f0b64c4ce?a=0x52097a921019431703015bdc80e4f45a098102cf">Etherscan</a> data, a trader spent 4,849 ETH approximately $18.4 million to buy 715.9B SHIB. This comes after the price of SHIB rallied with other crypto assets today. 
<blockquote class="twitter-tweet"> 
 A <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> super big winner is buying <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> crazily, spending 4,849 <a rel="nofollow" href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>($18.44M) to buy 715.9B <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> in the past 6 hours. 
 This guy spent only ~$400K to buy 5.5T <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> in the early stage and sold for ~$121M at 2 peaks. 
 He made more than $120M on <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> before, an amazing gain!<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f631.png" alt="😱" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a rel="nofollow" href="https://t.co/iREp5jfj75">pic.twitter.com/iREp5jfj75</a> 
 — Lookonchain (@lookonchain) <a rel="nofollow" href="https://twitter.com/lookonchain/status/1798254866227433887?ref_src=twsrc%5Etfw">June 5, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="strong-trader-made-millions-from-shiba-inu-strong">Trader Made Millions From Shiba Inu</h2> 
Previously the traders amassed a fortune from buying the meme token. The trader spent $400,000 to purchase 5.5T coins and sold it at two picks for $121 million. The transaction which saw him make more than $120 million attracted users to the token.&nbsp; 
Recently bullish sentiments have shaped SHIB’s narrative with a large movement of assets recorded today. A whale who received 167 billion SHIB in 2021 made an additional 173 billion SHIB, Spotonchain wrote on X.&nbsp; 
<blockquote>
 “An early buyer-linked whale just swapped 1K $WETH ($3.83M) for 149.3 $SHIB in the past hour! The whale’s last $SHIB activity was selling 167B $SHIB ($6.13M) 3 years ago. These tokens were received from a super early buyer who bought 5.16T $SHIB with only 45 $ETH ($63.7K) on Mar 1, 2021. The whale still holds 1,169 $WETH ($4.45M) and may buy more $SHIB”
</blockquote> 
<h2 id="strong-shib-price-soars-8-strong">SHIB Price Soars 8%&nbsp;</h2> 
The price is <a href="https://coingape.com/price/shiba-inu/">Shiba Inu</a> is up 8.2% today following positive intraday trading and a swing in market sentiments. These gains have reduced weekly losses to 5.1% placing monthly figures in the green zone at 3.1%. With the asset’s market capitalization at $15.2 billion, its daily trading volumes rallied 48%. Although SHIB remains 70% below its all-time high, bulls believe the coin could tap more milestones.&nbsp; 
<img decoding="async" class="aligncenter size-full wp-image-200721" src="https://coingape.com/wp-content/uploads/2024/06/chart-48.jpeg" alt="" width="1644" height="1200" srcset="https://coingape.com/wp-content/uploads/2024/06/chart-48.jpeg 1644w, https://coingape.com/wp-content/uploads/2024/06/chart-48-300x219.jpeg 300w, https://coingape.com/wp-content/uploads/2024/06/chart-48-1224x893.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/06/chart-48-768x561.jpeg 768w, https://coingape.com/wp-content/uploads/2024/06/chart-48-1536x1121.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/06/chart-48-150x109.jpeg 150w" sizes="(max-width: 1644px) 100vw, 1644px"> 
Other <a href="https://coingape.com/meme-coin/">meme coins</a> and altcoins also posted huge gains igniting new inflows to the crypto market.&nbsp; 
Also Read: Technical Factors Favor the Ethereum Price Surge: Checkout the Details 
The post <a href="https://coingape.com/trending/this-shib-millionaire-is-doubling-down-on-the-asset-following-price-surge/">This SHIB Millionaire Is Doubling Down on The Asset Following Price Surge</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

This SHIB Millionaire Is Doubling Down on The Asset Following Price Surge

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