An individual who has held Shiba Inu (SHIB) for a long period of time has made a substantial profit after unexpectedly selling the memecoin, as shown by on-chain data. Lookonchain, a blockchain tracking firm, has observed that this patient investor sold over 48 billion SHIB for a gain of 419 times the initial investment, after holding onto the digital asset for more than three years. The investor originally purchased the rival of Dogecoin (DOGE) in February 2021 for $2,625 and recently sold their holdings for $1.1 million, resulting in a profit of over $1.09 million.
“After remaining inactive for three and a half years, the super diamond trader has finally sold SHIB at a profit. They spent two ETH ($2,625) to acquire 48.09 billion SHIB on February 1st, 2021, and sold it for 278.7 ETH ($1.1 million) [on May 27th], resulting in a gain of 419 times!”
As of the time of writing, SHIB is being traded at $0.00002569, experiencing an increase of nearly 1% in the last 24 hours. Lookonchain has also observed that a clever trader made a quick profit by trading Ethereum (ETH) this month, and they also achieved significant gains by selling ETH in March after accumulating approximately 18,000 ETH between 2017 and 2020.
“A smart individual sold 3,025 ETH for 11.8 million DAI at $3,904 [on May 28th], resulting in a profit of approximately $1.11 million. This smart individual also acquired 17,770 ETH from 2017 to 2020 at an average price of $182 and sold it for $3,503 on March 28th, 2024, resulting in a profit of approximately $59 million!”
Source: Lookonchain/X
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