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Shiba Inu (SHIB) bull run investor made an unexpected move by trading SHIB for Artificial Superintelligence Alliance (FET). The strategic move came after the investor experienced losses in SHIB and is closely watched by the market. The whale’s action seems to determine the future confidence in SHIB.
Significant Profit from Shiba Inu in 2021
The cryptocurrency market is an arena full of sudden movements. In late 2021, an investor who made significant profits from the meme coin Shiba Inu (SHIB) recently made a notable strategy change. According to on-chain data provider Spot On Chain, this investor swapped a large portion of their SHIB for Artificial Superintelligence Alliance (FET), which gained about 14% in value in the last 24 hours.
This investor made $145 million in profit from SHIB trades between February 2021 and June 2022. However, after the significant gain, they incurred a loss of $11.51 million in their second major SHIB trade. Following this loss, the investor decided to make a strategic shift from SHIB to FET. The move, made during a period when FET was on the rise, caused a stir in the cryptocurrency market.
Has the Investor Completely Abandoned SHIB?
It is still unclear whether the investor has completely abandoned the meme coin SHIB. It is reported that they currently hold 713 billion SHIB, valued at $10 million. Holding this amount suggests that the investor still has confidence in SHIB or is acting according to a long-term plan. Perhaps they are waiting for the market to revive.
The whale’s transition from SHIB to the cryptocurrency FET is considered a closely watched move in the cryptocurrency market. The investor’s future steps could serve as an important guide for both the SHIB community and the broader crypto market.
Whether confidence in SHIB will continue seems to depend on the investor’s actions. Will the whale determine the future in the crypto world or did they take a risk? The market is now eagerly awaiting the answer to this question.
