While many memetokens, especially Solana (SOL)-based memetokens, have been very popular among investors since the beginning of 2024, memetokens such as FLOKI and SHIB, which came to the fore in the bull rally in 2021, also took their place in portfolios.
At this point, the corporate whale, who was a former SHIB investor and previously earned $145 million, started collecting SHIB again.
According to Spot on Chain's post, the corporate whale, which started buying SHIB again two years later, bought 715.8B SHIB in exchange for 4,849 WETH worth $18.5 million.
This whale had previously spent only $400,000 to purchase 5.5T SHIBs and later sold these SHIBs for approximately $145 million.
Pointing out that this whale still has 9,207 Ethreum (ETH) and WETH worth $ 34.9 million, Spot on Chain stated that this investor is likely to buy more SHIB.
While this investor's large purchase of SHIB had a positive impact on the price, the SHIB price increased by around 8% in the last 24 hours.
“The early institutional investor, who made a profit of $145 million from SHIB, buys SHIB again 2 years later!
In the last 5 hours, the organization increased the price by exchanging 4,849 WETH (worth $18.5 million) for 715.8B SHIB.
The organization still holds 9,207 ETH and WETH ($34.9 million) and may continue to acquire more SHIB!
This organization had previously received 8.29T SHIB between February 2021 and June 2022.
Most SHIBs were purchased very early in early March 2021, while the remaining SHIBs were sold during the biggest pump in October-November 2021.
This investment yielded an estimated total profit of $145 million (+5.201%)!”
SHIB continues to trade at $0.0000257 at the time of writing.
Previously, this entity had traded 8.29T $SHIB between Feb 2021 and Jun 2022.
Most $SHIB were bought super early in Mar 2021, then sold during the largest pump in Oct-Nov 2021.
This brought an est. total profit of $145M (+5,201%)! 😱 pic.twitter.com/V4Vm4fRM6c
— Spot On Chain (@spotonchain) June 5, 2024
*This is not investment advice.
