A Shiba Inu whale has made mind-blowing profits by buying low and selling high. The whale was an early investor and purchased SHIB on August 6, 2020 a week after its launch. The wallet spent just $3,800 back then and got to accumulate 15.28 trillion SHIB tokens. The dog-themed token was hovering at the $0.0000000009 range when it was added to his wallet.
Fast-forward to five years, the whale has made $6.05 million in profits with the $3,800 investment in Shiba Inu. Despite the hefty sale, the whale still holds 2.15 trillion SHIB tokens which is currently worth $52 million and has made an overall profit over the years worth $109 million, according to SHIB data from Lookonchain.
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The buy low and sell high is the dream of every investor but not everyone can time the market easily. While some miss the bus, the others get in late and incur losses. The stories of small investments turning into millions are aplenty in the broader cryptocurrency markets. When it comes to Shiba Inu, whales made mind-blowing returns as it surged more than 45 million percent in two years.
Whale Buying Activities in Shiba Inu Reduces
Whale activities in Shiba Inu peaked during 2020 to 2022 where they purchased trillions of tokens in single transactions. However, the activity reduced drastically as very few wallets are now buying billion and trillion of tokens. The token is now expensive and also risky to accumulate due to its downturn. The boat that made investors millions of dollars has sailed leaving present-day holders with empty bags.
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There is slim chances of turning $3,800 into millions of dollars again as SHIB is no longer skyrocketing in value. Shiba Inu whales are now a few as most of them have jumped ship. The others don’t want to become whales in SHIB as several other cryptocurrencies are more lucrative than the dog-themed token.
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