Shiba

Algorand

Million

Shiba Inu

<p class="has-text-align-left">Crypto whales have frequently been leveraging the opportunities to generate huge profits in recent times. As per the well-known on-chain analytics providing platform <a href="https://lookonchain.com/" target="_blank" rel="noopener">Lookonchain</a>, Shiba Inu Whale has recently carried out such an opportunity to make massive gains. The analytics firm disclosed the respective development on its official account on X.</p> 
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   <p lang="en" dir="ltr">Tether announced a strategic transition to prioritize community-driven blockchain support. Tether will stop supporting EOS and Algorand and will stop issuing USDT on EOS and Algorand. The transition will be completed within the next 12 months. <a href="https://t.co/4GihXRUgih" target="_blank">https://t.co/4GihXRUgih</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1805213339364266327?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 24, 2024</a>
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<h2 class="wp-block-heading" id="shiba-inu-whale-leverages-shib-to-make-profit-of-8-3-million-on-binance">Shiba Inu Whale Leverages $SHIB to Make Profit of $8.3 Million on Binance</h2> 
<p>According to the analytics company, the respective whale deposited a significant amount of <a href="https://blockchainreporter.net/shiba-inu-and-strump-see-huge-losses-while-rampant-ai-meme-coin-raboo-remains-unstoppable/" data-type="post" data-id="86197">$SHIB</a> tokens to the popular exchange Binance. As Lookonchain puts it, the whale reportedly deposited up to 1.08 trillion $SHIB coins, which is a quite heavy sum. Depositing such a huge number of tokens indicates the whale’s efficient strategy and belief in the potential profits.</p> 
<p>The respective amount of $SHIB tokens equals up to $18.4 million worth. As per the analytics firm, this event took place just recently. As Lookonchain pointed out, the above-mentioned development paved the way for an enormous benefit for the whale. As a result of this, the whale effectively generated gains of approximately $8.3 million worth, signifying a remarkable achievement.</p> 
<h2 class="wp-block-heading" id="the-whale-owns-29-million-in-terms-of-unrealized-profit">The Whale Owns $29 Million in Terms of Unrealized Profit</h2> 
<p>Following that event, the whale reportedly redeemed the amount that it had formerly deposited. The respective amount of nearly 1.08T $SHIB had a cost of up to $10.07 million in total. The entire episode of the $SHIB withdrawal spanned a few days, starting on the 24<sup>th</sup> of November and ending on the 4<sup>th</sup> of December. At present, the whale reportedly possesses almost $29 million in terms of unrealized profit at $SHIB’s peak.</p>

Shiba Inu Whale Deposits 1.08T $SHIB to Binance, Collecting $8.3M in Profit

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