Trader That Made $120,000,000 on Shiba Inu Begins Accumulating SHIB Again: On-Chain Data

A deep-pocketed entity who made $120 million on Shiba Inu (SHIB) is suddenly accumulating the memecoin again, according to on-chain data.

The blockchain tracking firm Lookonchain reports that “a SHIB super big winner” just spent 4,849 Ethereum (ETH), worth $18.44 million at the time, to buy 715.9 billion SHIB.

Says Lookonchain,

“This guy spent only ~$400K to buy 5.5 trillion SHIB in the early stage and sold for ~$121 million at two peaks. He made more than $120 million on SHIB before, an amazing gain!”

The crypto tracker also noticed nine other wallets belonging to two entities making massive SHIB buys.

“Nine wallets (two whales) spent $35.2 million to buy 1.356 trillion SHIB at an average price of $0.00002596 [on June 5th]!”

SHIB Is trading for $0.00002604 at time of writing, up 6.7% in the last 24 hours.

On the Solana (SOL) network, Lookonchain also noticed one crypto whale was staring at six-figure losses after continuing to accumulate sloth-themed memecoin SLERF.

“A whale withdrew 2.91 million SLERF ($923,000) and 2,280 SOL ($378,000) from Gateio [on June 4th]. Then he spent 2,281 SOL ($378,000) to buy 1.17 million SLERF. He has bought 11.9 million SLERF ($4.09 million) at an average price of $0.3432 since April 25th and currently has a loss of $266,000.”

However, the trader now appears to be in profit as Slerf is trading for $0.40 at time of writing, up more than 22% in the last 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Aleksandra Bataeva