An investor, who previously profited significantly from Shiba Inu (SHIB), made a surprising decision to trade their holdings for Artificial Superintelligence Alliance (FET). This move follows recent losses with SHIB and is being closely monitored by the market, influencing future confidence in the meme coin.
Significant Profit from Shiba Inu in 2021
The cryptocurrency market is known for its sudden shifts. In late 2021, an investor made substantial gains from SHIB trades but recently changed their strategy. Data from Spot On Chain reveals that this investor exchanged a significant amount of SHIB for FET, which saw a 14% increase in value within 24 hours.
This investor had earned $145 million from SHIB trades between February 2021 and June 2022. However, they suffered a loss of $11.51 million in a subsequent major SHIB trade. Following this downturn, the investor opted to shift their focus to FET, sparking considerable interest in the cryptocurrency community.
Has the Investor Completely Abandoned SHIB?
There is still uncertainty whether the investor has entirely exited from SHIB. Reports indicate that they currently hold 713 billion SHIB, equivalent to $10 million. This retention hints at ongoing confidence in SHIB or a strategic long-term plan, perhaps awaiting a market resurgence.
The investor’s transition from SHIB to FET is a significant event in the cryptocurrency market. Their future decisions are anticipated to be a crucial indicator for both the SHIB community and the broader market.
Key Takeaways from the Investor’s Move
– Monitor the investor’s future actions for market trends.
– Consider the potential for SHIB’s market revival.
– Evaluate the influence of large trades on cryptocurrency value.
The market eagerly watches to see if confidence in SHIB will persist, hinging on the investor’s next moves. Will their decisions shape the future of SHIB, or will they represent a calculated risk? The answer remains to be seen.