Shiba

WETH

Memecoin

Shiba Inu

Inu.

<ul>
 <li>Early Shiba Inu investor, made a $145M profit by swapping $3.5M SHIB for FET.</li>
 <li>The shift to AI is due to the 6.37% price increase in FET indicating high investor interest.</li>
</ul>
Shiba Inu (SHIB), saw a significant price surge of 10% on <a href="https://x.com/spotonchain/status/1798250897312788706" target="_blank" rel="noopener noreferrer nofollow">June 5</a>, fueled by notable whale activity. Data revealed that a long-dormant Shiba Inu whale exchanged 1,000 Wrapped Ethereum (WETH) for 149.3M SHIB, valued at $3.476M. This whale had previously been inactive for <a href="https://thenewscrypto.com/early-shiba-inu-whale-awakens-after-2-6-years-acquires-323-billion-shib/" target="_blank" rel="noopener noreferrer nofollow">2.6 years</a>, after selling 167B SHIB for $6.13M.&nbsp;
Another early investor, who had made $145 million in <a href="https://thenewscrypto.com/can-shiba-inu-shib-keep-up-the-pace/" target="_blank" rel="noopener noreferrer nofollow">profits</a> from Shiba Inu trading, also re-entered the market after two years of inactivity. On June 5,&nbsp; this whale accumulated 715.8 billion SHIB by swapping 4,849 WETH (valued at $18.5 million), pushing SHIB’s price up by 4.6%.
Recently, one of the early SHIB investors, who previously made $145 million in profits, has begun divesting from Shiba Inu. In the past 10 hours, this whale swapped <a href="https://x.com/spotonchain/status/1829696062317355049" target="_blank" rel="noopener noreferrer nofollow">255.62M</a> SHIB, valued at $3.5M, for 3.114 million <a href="http://fetch.ai" target="_blank" rel="noopener noreferrer nofollow">Fetch.ai</a> (FET) tokens. This move reflects a strategic shift as SHIB’s recent performance has led to unrealized losses of $11.51 million, or 45.9%, since June 2024.
<h3 class="wp-block-heading" id="h-whale-shift-influencing-memecoin-market">Whale Shift Influencing Memecoin Market</h3>
This contributed to a broader rally in the memecoin market, with the total market cap jumping 0.71% to $2.08T. Shiba Inu’s 24-hour volume dipped by 6.07% to <a href="https://coinmarketcap.com/currencies/shiba-inu/" target="_blank" rel="noopener noreferrer nofollow">$184M</a>, with the price reaching $0.00001398.&nbsp;
The decision to move into Fetch.ai appears as FET has seen a 6.37% price increase, suggesting the whale is looking to capitalize on the rising trend. FET is currently trading at <a href="https://coinmarketcap.com/currencies/artificial-superintelligence-alliance/" rel="noopener noreferrer nofollow">$1.18</a> with its market cap at $2B and an 8% spike in its 24-hour volume reaching $239M.
While <a href="https://thenewscrypto.com/how-are-shiba-inu-recent-activities-impacting-its-growth-outlook/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> remains a significant player, the whale’s change to Fetch.ai suggests a strategy amid volatile market conditions. Investors will be watching closely to see how these shifts impact the broader meme coin market in the coming weeks.
Highlighted Crypto News Today: <a href="https://thenewscrypto.com/why-bitcoin-bulls-struggle-to-maintain-their-momentum/" target="_blank" rel="noopener noreferrer nofollow">Why Bitcoin Bulls Struggle to Maintain Their Momentum?</a>

Early Shiba Inu Whale Shifts $3.5M to FET Amid Losses

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