A cryptocurrency whale holding 499.62 billion Shiba Inu (SHIB) meme tokens transferred them to the Hotbit exchange for a total of $4.24 million, at a price of $0.0000085 per token.
The transaction took place 13 hours ago, after the whale had been inactive for 7.5 months.
The whale was accumulating SHIB at higher prices, hoping prices would recover in 2022. However, SHIB has been in a steady decline since late 2021, losing more than 80% from its all-time high of $0.000065 in October 2021.
This whale still has 200+% return on investment from the SHIB trade, although it will lose some if it sells now.
Whale became one of the early investors by purchasing the SHIB meme token in April 2021, before it became popular. Whale made over $70 million profit from SHIB trading in 2021.
The whale also timed the market well, buying low and selling high. The most notable transaction took place in October 2021, when the whale earned $58.27 million by selling 900 billion SHIB on Hotbit at a peak price of $0.000065.
However, it was noteworthy that the whale made the last transaction on the Hotbit exchange, which was announced to be closed in the near future.
*Not investment advice.
