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As Shiba Inu’s price soared, one whale sold 100 billion SHIB, netting $2.85 million. The same whale still holds 2.5 trillion SHIB, a sign of ongoing confidence amid SHIB’s 16% daily rally and anticipation of a fresh all-time high.
Whale Nets Millions as Shiba Inu Bull Run Accelerates
On November 12, according to Etherscan's on-chain statistics, a clever whale made $2.85 million by selling 100 billion coins to the cryptocurrency exchange Gemini during the Shiba Inu bull run. The data shows that the whale address 0xd6B profited from a large transfer to the cryptocurrency exchange indicated.
This whale spent $3.8K to buy 15.28 trillion SHIB as early as August 2020, which would have been nearly $1.22 billion at the meme coin's peak, according to statistics from Lookonchain. The same address maintained 2.5 trillion coins, valued at $75.2 million, after all the selloffs, boasting a profit record of $123 million on the dog-themed meme currency.
Notably, the clever whale's current holdings show that the market believes the asset can pump more.
Meme Coin Whales Continue to Hold Large Positions
At the same time, in a related story, meme coin whale 0xa145B was shown selling 83.36 billion coins to Binance, the largest cryptocurrency exchange, for $2.42 million. But this whale still has 373.26 billion coins, which is $10.82 million, so there's still reason to be optimistic about the token's future.
The famous meme coin with a canine motif has been the beneficiary of a deluge of market optimism thanks to the aforementioned trading tactics.
Notably, as the cryptocurrency sector soars unprecedentedly post-U.S. elections, market sentiments ranging from "Shiba Inu" to "ATH" prevail across the industry as a whole, after Bitcoin's recent fresh ATH. As of this writing, the price of SHIB was $0.00002901, an increase of around 16% over the previous 24 hours.
Weekly Gains Bolster Confidence in Shiba Inu's Bull Run
Also, as of the reporting deadline, the coin had gained a total of 65% in the past week. A general uptick in interest in the meme coin has caused its price to rise.
Additionally, yesterday, the destruction of nearly half a billion coins caused the Shiba Inu burn rate to skyrocket. This positive indicator goes hand in hand with the token's continued intraday price increase.
All-Time High Possible as SHIB Surges Toward New Levels
More pumps are on the way, according to a recent SHIB price analysis by CoinGape, which means the meme coin's ascent is far from over.
The achievement of an ATH is still feasible if the coin continues to rise, surpassing the $0.000028 and $0.000046 obstacles. Following the most recent market statistics, crypto market fans are keeping a close check on the token in the hopes of seeing future optimistic movements.
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