Shiba

Artificial Superintelligence Alliance

Million

Shiba Inu

<p><span data-preserver-spaces="true">Among millions of cryptos available to trade, crypt traders have also chosen their favorites. And this year, meme currencies have become the most preferred for trading. However, with the introduction of new tokens and rising competition, the previously launched tokens are losing their profits in front of new trends. As a result, a crypto whale had to exchange its billions of SHIB tokens into FET after bearing heavy losses in this cryptocurrency.&nbsp;</span></p> 
<p><span data-preserver-spaces="true">Though it shows investors’ incline towards the rest of the altcoins, it also indicates the market’s high volatility. It is because the cryptos, which were profitable at one point, have turned into heavy losses.&nbsp;</span></p> 
<h2 id="crypto-whale-swapped-255-62b-shib-for-3-114m-fet">Crypto Whale Swapped 255.62B SHIB For 3.114M FET</h2> 
<p>The crypto market offers millions of cryptos to trade with a huge variety based on properties, demand, and profitable activities. And this one smart crypto whale found the benefit in that, as it swapped billions of Shiba Inu (SHIB) tokens into FET to turn its ongoing losses into significant profits.</p> 
<p>Lookonchain, a crypto analytics platform, has revealed the transition details of the SHIB whale, where the whale exchanged 255.62 Billion SHIB ($3.5 M) for 3.114 Million FET to recover its 45.9% loss from the Shiba Inu investments.</p> 
<blockquote> 
 <p dir="ltr" lang="en">This early <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> buyer is swapping its losing <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> position for the rising <a rel="nofollow" href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FET</a>!</p> 
 <p>In the past 10 hours, the whale swapped 255.62B <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> ($3.5M) for 3.114M <a rel="nofollow" href="https://twitter.com/search?q=%24FET&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FET</a>.</p> 
 <p>Notably, this whale made a $145M (x52) profit from the first trading <a rel="nofollow" href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> during Feb 2021 – Jun 2022. However, the… <a rel="nofollow" href="https://t.co/UIz4CHekKW">https://t.co/UIz4CHekKW</a> <a rel="nofollow" href="https://t.co/Z4BKWFU2qg">pic.twitter.com/Z4BKWFU2qg</a></p> 
 <p>— Spot On Chain (@spotonchain) <a rel="nofollow" href="https://twitter.com/spotonchain/status/1829696062317355049?ref_src=twsrc%5Etfw">August 31, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The whale known for its earlier profitable SHIB holdings, ended up facing losses due to the ongoing challenging market conditions. The Lookonchain X post reveals that the SHIB whale made a $145M (x52) profit with its SHIB trading activities between Feb 2021 and Jun 2022. However, with the failure of the<a href="https://coingape.com/price/shiba-inu/"> Shiba Inu price</a> to rise, the whale had to look for other profitable trades in the market.</p> 
<h3 id="how-is-it-a-profitable-deal">How Is It A Profitable Deal?</h3> 
<p>Shiba Inu (SHIB) and Artificial Superintelligence Alliance (FET) have their share of popularity in th market. However, they belong to two different categories, dividing them based on demand and profitability.</p> 
<p>SHIB is among the most popular <a href="https://coingape.com/meme-coin/">meme coins</a> but has a low value and a high supply, making it easier to hold. However, its performance is limited because of the higher volatility. On the other hand, FET is an AI crypto that focuses on artificial intelligence. This provides a gap or an opportunity to make profitable swaps as these follow a different trend.</p> 
<p>At the time of this whale swap, SHIB was under constant loss for the last month, losing more than 15% of its value, bringing down the entire valuation of the holding. This was also the reason why analysts advised <a href="https://coingape.com/markets/key-reason-why-investors-must-avoid-matic-shib-uni/" target="_blank" rel="noopener">investors to avoid SHIB</a> investments.</p> 
<p>However, with the transition of Fetch.Ai to the Artificial Superintelligence Alliance and the current trend of AI-based cryptocurrencies, the price is on the profiting side with a 6% surge in the last 24 hours. As a result, many <a href="https://coingape.com/markets/can-fetch-ai-price-hit-2-as-fet-whales-go-on-buying-spree-ahead-of-nvidia-earnings/" target="_blank" rel="noopener">whales went on Buying Spree</a>, especially before the NVIDIA earnings.</p> 
<p>More importantly, the Spotonchain data revealed that since the swap, the FET price has surged almost 14%, becoming a profitable deal for the SHIB whale.</p> 
<h2 id="final-thoughts">Final Thoughts</h2> 
<p>SHIB has its share of profitable days, but with the rising competition and introduction of new meme-based cryptocurrencies, the frequency of surges has decreased. However, the condition is totally opposite for the Artificial Superintelligence Alliance, as the demand is rising for <a href="https://coingape.com/top-ai-crypto-tokens/">AI crypto coins</a>, offering a more profitable outlook. In this attempt, the crypto whale has swapped 255.62 Billion SHIB ($3.5 M) for 3.114 Million FET to recover its ongoing 45.9% losses in Shiba Inu investments.</p> 
<p>The post <a href="https://coingape.com/trending/how-did-a-crypto-whale-turn-to-profits-with-shib-to-fet-swap/">How Did A Crypto Whale Turn To Profits With SHIB To FET Swap?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

How Did A Crypto Whale Turn To Profits With SHIB To FET Swap?

Table of Contents

Coingape News Media

Other articles published on Aug 31, 2024

Ripple’s Plan To Aid SMEs Struggling With Cross-Border Payments

3 Altcoins to Buy the Dip Amid Bitcoin Price Uncertainty

Hong Kong SFC Grants New Digital Asset Exchange License to HKDAEx

FET Token Set to Skyrocket? Shiba Inu Millionaire Makes Big Bet

Why Revenue Prediction Matters in Crypto Investments?

Telegram Holds $400 Million in Digital Assets — Financial Report

Join our free newsletter for daily crypto updates!