A wealthy individual who previously earned $120 million from Shiba Inu (SHIB) has now been identified as making significant purchases of the memecoin once again, as per data from blockchain tracking firm Lookonchain.
The report reveals that this “SHIB super big winner” recently spent 4,849 Ethereum (ETH), valued at $18.44 million, to acquire 715.9 billion SHIB. Lookonchain states, “This individual initially spent only around $400K to buy 5.5 trillion SHIB in the early stages and sold for over $121 million at two peaks. They have already made more than $120 million from SHIB, which is an impressive profit!”
Additionally, Lookonchain has observed nine other wallets associated with two entities engaging in substantial SHIB purchases. “Nine wallets (two whales) collectively spent $35.2 million to buy 1.356 trillion SHIB at an average price of $0.00002596 [on June 5th]!”
The current trading price for SHIB stands at $0.00002604, marking a 6.7% increase in the last 24 hours. On the Solana (SOL) network, Lookonchain has also identified a crypto whale facing significant losses after persistently accumulating the sloth-themed memecoin SLERF.
The report states, “A whale withdrew 2.91 million SLERF ($923,000) and 2,280 SOL ($378,000) from Gateio [on June 4th]. Subsequently, they spent 2,281 SOL ($378,000) to purchase 1.17 million SLERF. Since April 25th, this individual has acquired 11.9 million SLERF ($4.09 million) at an average price of $0.3432, resulting in a current loss of $266,000.”
Despite the initial losses, the trader seems to have turned a profit as SLERF is currently trading at $0.40, marking an increase of over 22% in the last 24 hours.
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