A Diamond Trader Made 419% Gains Out of Shiba Inu (SHIB)
The post A Diamond Trader Made 419% Gains Out of Shiba Inu (SHIB) appeared on BitcoinEthereumNews.com.
Blockchain analytics firm Lookonchain revealed in its latest X post that after being inactive for 3.5 years, a renowned diamond trader sold off SHIB tokens at a significant profit. This trader initially purchased 48.09 billion SHIB for 2 ETH valued at $2,625 on February 1, 2021. Recently, the trader sold the SHIB holdings for 278.7 ETH, valued at $1.1 million, resulting in a substantial gain of 419 times the initial investment. After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit. He spent 2 $ETH($2,625) to buy 48.09B $SHIB on Feb 1, 2021, and sold it for 278.7 $ETH($1.1M) just now, a gain of 419x!https://t.co/Pw9i9wbKcn pic.twitter.com/Qvp9wKpWCc — Lookonchain (@lookonchain) May 27, 2024 Transaction data revealed that this was an MEV bot transaction executed at 03:20 PM UTC on May 27. This incident demonstrates how savvy traders can profit in the crypto market. SHIB Burn Increased: is it a Good Signal? As per the latest update of Shiburn in the last 24 hours, the burn rate of Shiba Inu is up by 83.5% and stood at 5,611,112. HOURLY SHIB UPDATE$SHIB Price: $0.00002532 (1hr -0.63% ▼ | 24hr 3.70% ▲ )Market Cap: $14,888,191,151 (3.19% ▲)Total Supply: 589,273,529,519,359 TOKENS BURNTPast hour: 88,172 (1 transaction) Past 24Hrs: 5,611,112 (83.5% ▲)Past 7 Days: 46,369,675 (53.52% ▲) — Shibburn (@shibburn) May 28, 2024 In the past week, the burn rate has increased by 53%. The burning program aims to reduce the abundant supply of SHIB tokens, making them rarer and potentially more valuable over time. Shiba Inu on the Technical Chart The technical chart of Shiba Inu price has experienced profit booking from the beginning of March and has undergone a correction phase. However, the price is taking support on the moving averages, showcasing buyers’ support. SHIB crypto price has…
Filed under: News - @ May 28, 2024 7:24 pm