Shiba Inu Whale Realizes $3.2M Profit After 2.6 Years of Holding: SHIB Pattern Suggests Continued Uptrend
A Shiba Inu (SHIB) whale has successfully realized a substantial profit of $3.2 million after holding their investment for over 2.6 years. According to Spot On Chain, the investor, who initially purchased 199 billion SHIB tokens between October 10, 2021, and September 11, 2023, has seen their investment grow from an estimated cost of $1.68 million to $4.88 million.
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The Shiba Inu Whale’s Journey
The whale’s journey began with purchases made through Coinbase and decentralized exchanges (DEXs) over a period of nearly two years. Despite an initial loss of $176,000 in a quick trade in 2021, the investor remained patient and continued to hold their SHIB tokens.
The decision to hold proved to be a wise one, as the value of their SHIB holdings increased over time. The whale’s patience and long-term investment strategy have paid off, resulting in a 191% profit.
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Show more +Depositing Profits on Coinbase
Few hours ago, the whale deposited all of their SHIB tokens, now worth $4.88 million, to Coinbase. This move suggests that the investor is ready to realize their profits and potentially diversify their portfolio or invest in other opportunities.
The whale’s success story serves as a testament to the potential rewards of long-term investing in the cryptocurrency market. It also highlights the importance of patience and the ability to learn from past experiences, as the investor bounced back from an initial loss to achieve a substantial profit.
SHIB Price Action and Market Sentiment
In a related development, crypto analyst Crypto Breakout has provided an update on SHIB’s price action. The successful breakout of a triangle pattern and the subsequent day-end close above resistance indicate a potential continuation of the uptrend for SHIB.
This positive price action, coupled with the whale’s recent profit realization, may further bolster market sentiment and attract more investors to the Shiba Inu ecosystem.
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