Shiba

Dogecoin

Millions

Shiba Inu

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/crypto-investor-earns-millions-on-shib" data-wpel-link="internal">Crypto Investor Earns Millions on SHIB</a><br></p>
<p style="text-align: justify">Meme coins have surged in popularity within the cryptocurrency sector over the past two years, creating a significant number of millionaires. Shiba Inu (SHIB), often seen as the main rival to Dogecoin (DOGE), is one of the major contributors to this trend. A recent investment in SHIB by a former investor has yielded substantial profits, drawing wide attention.</p> 
<h2 id="who-is-the-shiba-inu-wealthy-investor">Who is the Shiba Inu Wealthy Investor?</h2> 
<p style="text-align: justify">On-chain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data reveals</a> that a previous SHIB investor, who initially earned $120 million, has renewed their interest in the coin. This investor is reportedly gearing up for another round of profits from SHIB.</p> 
<p style="text-align: justify">Blockchain tracking service Lookonchain reported that this investor spent around $18.44 million, equivalent to 4,849 Ethereum (ETH), to acquire 715.9 billion SHIB. This move has captured considerable interest within the cryptocurrency community.</p> 
<h2 id="what-are-the-latest-shiba-inu-transactions">What are the Latest Shiba Inu Transactions?</h2> 
<p style="text-align: justify">Lookonchain detailed that the investor initially invested approximately $400,000 to buy 5.5 trillion SHIB, which was sold for $121 million at two peaks. This remarkable return of over $120 million from SHIB investments is noteworthy.</p> 
<p style="text-align: justify">Additionally, Lookonchain examined nine wallets associated with two entities that invested heavily in SHIB. These wallets spent $35.2 million on June 5 to purchase 1.356 trillion SHIB at an average price of $0.00002596. At the time of writing, SHIB traded at around $0.00002585, following a 6.7% increase in the last 24 hours, with a market cap exceeding $15.2 billion.</p> 
<h2 id="solana-whale-s-costly-move">Solana Whale’s Costly Move</h2> 
<p style="text-align: justify">Investigations by Lookonchain also focused on a whale operating on the Solana (SOL) network. This whale incurred significant losses after investing in the sloth-themed <a href="https://en.bitcoinhaber.net/meme-coins-surge-as-investors-reap-massive-profits" data-wpel-link="internal">memecoin</a> SLERF. On June 4, the whale spent $923,000 to purchase 2.91 million SLERF and $378,000 to buy 2,280 SOL from Gateio. Since April 25, they accumulated 11.9 million SLERF at an average price of $0.3432, resulting in a current loss of $266,000.</p> 
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2> 
<ul> 
 <li>Early and strategic investments in meme coins like SHIB can yield substantial profits.</li> 
 <li>Tracking on-chain data can provide valuable insights into significant market movements.</li> 
 <li>Large investments by whales can significantly impact coin prices and attract market attention.</li> 
 <li>The volatile nature of meme coins requires cautious and informed <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investment strategies</a>.</li> 
</ul> 
<p style="text-align: justify">Understanding the dynamics of meme coin investments can provide a competitive edge in the highly unpredictable cryptocurrency market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/crypto-investor-earns-millions-on-shib" data-wpel-link="internal">Crypto Investor Earns Millions on SHIB</a></h5>

Crypto Investor Earns Millions on SHIB

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