Shiba

Davinci

MANTRA

Shiba Inu

<div class="finbold">
 <p class="paragraph">After making over $120 million trading Shiba Inu (SHIB), one cryptocurrency <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> has made another strong bet – this time spending more than $18 million to buy over 700 Shiba Inu in a matter of hours, reflecting increased confidence of SHIB whales in the meme crypto asset’s future.</p>
 <p class="paragraph">Specifically, the investor had <a rel="noopener noreferrer nofollow" title="bought" href="https://thebittimes.com/tag/bought.html">bought</a> 5.5 trillion SHIB early on for $400,000 and then sold them at two price peaks, profiting $121 million, and now they used 4,849 Ethereum (ETH), worth about $18.44 million, to buy 715.9 billion SHIB, according to the data shared by <em>Lookonchain </em>in an X post on June 5.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="800" height="673" src="https://cdn.thebittimes.com/images/2024/06/05/018fd9557f9d1504eac89474fd31293d.webp" alt="SHIB trader transaction data. Source: Lookonchain" class="wp-image-181015" srcset="https://cdn.thebittimes.com/images/2024/06/05/018fd9557f9d1504eac89474fd31293d.webp 800w, https://cdn.thebittimes.com/images/2024/06/05/018fd9557f9d1504eac89474fd31293d.webp 300w, https://cdn.thebittimes.com/images/2024/06/05/018fd9557f9d1504eac89474fd31293d.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>SHIB trader transaction data. Source: </em><em>Lookonchain</em>
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 </figure>
 <p class="paragraph">Indeed, the crypto <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>’s smartly placed purchases and sales, which involved buying SHIB at an average price of roughly $0.0000000727 back in 2021 and then selling at the right moment, amid two significant price peaks, suggest that this investor, in particular, is confident that a price peak will happen again.</p>
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    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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 <figure class="wp-block-image size-full"><img decoding="async" width="800" height="348" src="https://cdn.thebittimes.com/images/2024/06/05/71b9645892c8405493d4e5d4804cd57d.webp" alt="SHIB trader’s buying and selling history. Source: Lookonchain" class="wp-image-181016" srcset="https://cdn.thebittimes.com/images/2024/06/05/71b9645892c8405493d4e5d4804cd57d.webp 800w, https://cdn.thebittimes.com/images/2024/06/05/71b9645892c8405493d4e5d4804cd57d.webp 300w, https://cdn.thebittimes.com/images/2024/06/05/71b9645892c8405493d4e5d4804cd57d.webp 768w" sizes="(max-width: 800px) 100vw, 800px">
  <figcaption class="wp-element-caption"><em>SHIB <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>’s buying and selling history. Source: </em><em>Lookonchain</em>
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 <p class="paragraph">It is also worth noting that early Bitcoin (BTC) adopter and professional crypto <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a> Davinci Jeremie strongly believes in SHIB’s bright future as well, recently sharing his prediction of Shiba Inu rallying and hitting $0.00006 soon, as Finbold reported earlier.</p>
 <h2 class="wp-block-heading" id="h-shiba-inu-price-analysis">Shiba Inu price analysis</h2>
 <p class="paragraph">Meanwhile, SHIB was at press time changing hands at the price of $0.00002563, which represents a 7.60% gain in the last 24 hours, as it moves to reverse the 5.13% drop from across the previous seven days and adding up to the 6.26% advance over the past month, as per data on June 5.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="536" src="https://cdn.thebittimes.com/images/2024/06/05/ebf36cc2c44f161f1d836d1b58770fde.webp" alt="SHIB price 30-day chart. Source: Finbold" class="wp-image-181017" srcset="https://cdn.thebittimes.com/images/2024/06/05/ebf36cc2c44f161f1d836d1b58770fde.webp 750w, https://cdn.thebittimes.com/images/2024/06/05/ebf36cc2c44f161f1d836d1b58770fde.webp 300w" sizes="(max-width: 750px) 100vw, 750px">
  <figcaption class="wp-element-caption"><em>SHIB price 30-day chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Inevitably, the question arises – why is Shiba Inu going up? Notably, one explanation for SHIB’s recent price recovery is the fact that it is happening against the backdrop of a significantly higher number of new accounts on Shiba Inu’s blockchain, Shibarium, soaring by over 3,000% in 24 hours.</p>
 <p class="paragraph">All things considered, the largest <a rel="noopener noreferrer nofollow" title="trader" href="https://thebittimes.com/tag/trader.html">trader</a>s in the crypto market seem to be exceptionally bullish on the future of the currently 11th-largest crypto asset by market capitalization. However, doing one’s own research before investing is critical as other people’s confidence might sometimes be misplaced.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/shib-trader-who-made-120m-just-bought-18m-shiba-inu-tbt91477.html">https://thebittimes.com/shib-trader-who-made-120m-just-bought-18m-shiba-inu-tbt91477.html</a></p>

SHIB trader who made $120M just bought $18M Shiba Inu

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