🔥🔥🔥 Trader Who Realized $8.2M from #shibaInu is Now Buying this Coin
A savvy investor who previously secured over $8 million in returns from Shiba Inu ($SHIB ) has now shifted focus to another high-performing asset amid the recent market frenzy.
Transition to Wrapped Bitcoin (WBTC)
- Crypto surveillance platform Spot on Chain recently highlighted the activities of a trader who made $8.24 million from SHIB. According to their report, this investor has now accumulated Wrapped Bitcoin (WBTC), having sold off SHIB just over a month ago with a 106% return.
How the Trader Made $8.24M from Shiba Inu
- The trader's venture into Shiba Inu occurred between March 1 and 31, during which they acquired 533.6 billion SHIB tokens across 11 addresses. This investment cost $7.75 million, with an average purchase price of $0.00001453 per SHIB.
- The trader entered the SHIB market during an aggressive uptrend that began four days earlier. Shortly after the acquisition, SHIB surged past the $0.00002 mark, reaching levels not seen in three years.
- By the fifth day, SHIB hit $0.00004534, valuing the trader's holdings at $24,166,220. Despite the significant gain, the trader did not immediately cash out. Instead, they held the position as SHIB's price fluctuated, averaging above $0.00003 throughout March.
- After 30 days without significant gains, the trader sold their 533.6 billion SHIB tokens for about $16 million in DAI, making a profit of $8.24 million. The average liquidation price was $0.00003 per SHIB, yielding a return of over 106%.
Now Buying $WBTC
- In the last 24 hours, the crypto market has seen Bitcoin reclaim the $66,000 price level, influencing altcoins like Shiba Inu. However, the trader chose to explore new opportunities instead of reinvesting in SHIB.
- The investor committed $16.22 million to acquire #WBTC at an average price of $64,449 per token. Spot on Chain noted that this wallet has already registered a profit of $380,000 in the last few hours amid Bitcoin’s surge.
Source - thecryptobasic.com
