An investor known for their early investment in Shiba Inu and for holding assets despite market fluctuations has recently changed their investment strategy. This individual, who earned $145 million from SHIB transactions between February 2021 and June 2022, is now selling off SHIB holdings to accumulate NEIRO and FET instead.
Investor Moves from SHIB to $NEIRO and $FET
According to data from Spot On Chain, this seasoned investor has reallocated resources from Shiba Inu assets to NEIRO and FET. Following a 17-fold increase in value of the meme coin, this early investor sold a portion of their Shiba Coins to acquire 2.86 billion NEIRO.
At the same time, the investor accumulated approximately 3.114 million FET Coins, which have shown a value increase of around 20.7%.
Reasons Behind New Investments
The shift towards NEIRO and FET appears to be linked to the recent performance of these tokens and their unique value propositions. NEIRO has garnered investor attention due to its rapidly increasing trading volume and swift adoption on major cryptocurrency exchanges like Binance and KuCoin.
The coin’s integration into popular trading platforms shortly after its launch contributed to over a 115% price increase and heightened visibility.
On the other hand, FET stands out due to its foundation in artificial intelligence technologies. This aspect appeals to investors interested in innovative uses of blockchain for real-world applications. The technology behind FET facilitates automated solutions and decentralized algorithms, suggesting growth potential as industries increasingly integrate AI into operations.
Despite the investor’s directional shift, the introduction of liquid staking in Shibarium is seen as a significant step for SHIB’s valuation. This new feature allows users to stake their coins while maintaining liquidity, potentially increasing the token’s price.
Additionally, the Shiba Inu community has recently intensified its token-burning efforts, which, while not in massive quantities, can serve as a motivational factor for the community. This reduction in supply aims to create scarcity, potentially paving the way for a 36% rally. The combination of supply reduction and functional improvements presents a positive outlook for SHIB’s price.
As of the time of writing, Shiba Inu’s price was at $0.00001436, reflecting an 8% increase over the past week. NEIRO experienced a 41% surge in the last 24 hours, while FET saw a 5% increase during the same period.
The investor’s transition from SHIB to NEIRO and FET highlights the dynamics of the cryptocurrency market and investors’ quick adaptation to new opportunities. Observations suggest that Shiba Inu continues to maintain its potential through developments like liquid staking and an increase in burn rates.
