SHIB Whale Makes 41,900% Profit After Three Years

SHIB Whale Makes Profit of $1.1 Million After Three Years

According to X user Lookonchain, a SHIB whale held Shiba Inu (SHIB) tokens for over three years before selling them for a 41,900% profit. On February 1st, 2021, the investor exchanged 2 Ether (ETH) for approximately 48 billion SHIB, converting $2,625 into nearly $1.1 million after exchanging SHIB for ETH yesterday.

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After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit.

He spent 2 $ETH($2,625) to buy 48.09B $SHIB on Feb 1, 2021, and sold it for 278.7 $ETH($1.1M) just now, a gain of 419x!https://t.co/Pw9i9wbKcn pic.twitter.com/Qvp9wKpWCc

— Lookonchain (@lookonchain) May 27, 2024

The now-crypto millionaire transferred his ETH holdings at the time of writing, leaving them in his wallet following the transaction.

The timing is unusual, given that SHIB achieved its all-time high in October 2021 and is now 70% down from its peak price. If the investor reinvested his earnings, he would have earned more than $4.1 million, or a 156,190% return on investment.

Furthermore, the token has increased by 4% in the last 30 days, falling behind meme coins released around the peak of the bull cycle. During the same period, the Solana-based tokens Bonk (BONK) and Dogwifhat (WIF) have increased by 55% and 29.5%, respectively.