Shiba

bullish

Million

Shiba Inu

<p>Shiba Inu (SHIB) Whale Makes $123M Profit </p>   
<p>Shiba Inu (SHIB) is on fire! After a <a href="https://coinpedia.org/news/shiba-inu-burn-rate-skyrockets-1837-shib-price-set-for-massive-gains/" target="_blank" rel="noreferrer noopener">huge increase in just one week</a>, SHIB is showing no signs of slowing down. This rally has caught the attention of a SHIB whale, who recently sold 100 billion SHIB tokens for a profit of $2.85 million. But that’s not all—this whale’s total profit has now reached a staggering $123 million, all from an initial investment of just $3,800.</p>   
<h2 class="wp-block-heading" id="h-a-risky-investment-pays-off-big"><strong>A Risky Investment Pays Off Big</strong></h2>   
<p>In August 2020, this SHIB whale made a bold move by investing $3,800 to buy 15.28 trillion SHIB tokens. At the time, SHIB was not the well-known meme coin it is today, making this decision a big risk. However, the gamble paid off as SHIB’s value surged over time. </p>   
<p>By the peak of its price, those 15.28 trillion tokens were worth around $1.22 billion—an incredible return on a relatively small initial investment.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/lookonchain/status/1856213410566025553 
 </div>
</figure>   
<p><strong>Smart Moves Lead to Massive Profits</strong></p>   
<p>Today, the whale still holds 2.5 trillion SHIB tokens, valued at about $75.2 million. After selling 100 billion SHIB for $2.85 million, their total profit from the original investment has now reached $123 million. This highlights the importance of timing in the world of cryptocurrency. While meme coins like SHIB are known for their price swings, early investors have seen huge profits.</p>   
<p>The whale’s ability to sell at the right time allowed them to cash out while still holding a significant amount of SHIB, showing how smart decisions can lead to <a href="https://coinpedia.org/price-analysis/shiba-inu-retests-its-pivotal-point-shib-price-to-hit-0-000030/" target="_blank" rel="noreferrer noopener">substantial gains in a volatile market.</a></p>   [post_titles_links postid="378741"]   
<h2 class="wp-block-heading" id="h-it-s-looking-bullish-for-shib">It's Looking Bullish for SHIB</h2>   
<p>Looking at SHIB’s technical indicators, the outlook remains positive. The <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index</a> (RSI) is at 68.00, nearing the overbought zone, which suggests strong momentum. Another bullish sign is the 50-day <a href="https://coinpedia.org/traders/exponential-moving-average-ema/">Exponential Moving Average</a> (50 EMA), which continues to rise, indicating sustained upward movement.</p>   
<p>Over the past week, SHIB has surged by 67%, trading at about $0.000029. This price increase has helped SHIB’s market cap reach $17.25 billion, making it one of the top meme coins in the market.</p>   
<h2 class="wp-block-heading" id="h-key-levels-to-watch"><strong>Key Levels to Watch</strong></h2>   
<p>When looking at SHIB’s price chart, immediate support is found at $0.00003036. This level could act as a floor, helping to prevent further price drops. On the other hand, the key resistance level is at $0.00003305. If SHIB can break through this resistance, there’s potential for the price to climb even higher, possibly reaching $0.000040.</p>   
<p><strong>As SHIB continues its rally, all eyes will be on whether it can maintain this momentum and reach new price levels.</strong> <strong>As always, the crypto market remains volatile, so investors should proceed with caution.</strong></p>

Shiba Inu Whale Makes $123 Million Profit As SHIB Price Explodes

Table of Contents

CoinPedia News

Other articles published on Nov 12, 2024

Daily Market Review: BTC, ETH, AIOZ, CRO, DOGE

Trump’s Election Victory Isn’t the Real Story Behind Bitcoin’s Rally

Sam Trabucco Settles with FTX by Transferring Assets

Bitcoin Records Biggest Daily Gain in History

Orderly Network Strengthens Cross-Chain Liquidity with Avalanche Expansion (12 Nov)

Canary Capital Files for First Hedera (HBAR) Spot ETF with SEC: Will It Be Approved?

Join our free newsletter for daily crypto updates!