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HomeCrypto NewsMarketDormant Whale Transfers Nearly 500B Shiba Inu to HotBit

Dormant Whale Transfers Nearly 500B Shiba Inu to HotBit


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Whale Transfers Nearly 500B Shiba Inu (SHIB) to HotBit After 200%+ ROI from Previous Trades.

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A crypto whale moves to clear out Shiba Inu tokens acquired at higher prices in 2022 via the fading HotBit exchange after an impressive 200%+ ROI from previous trades.

In a surprising move, a crypto whale recently transferred a staggering 499.62 billion units of Shiba Inu (SHIB) tokens to the fading HotBit crypto exchange after a period of dormancy lasting 7.5 months.

Recall that TheCryptoBasic reported an urgent call to Shiba Inu enthusiasts to withdraw their SHIB holdings from the HotBit crypto exchange following the platform’s recent decision to end centralized exchange services.

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According to market tracker SpotOnChain, the whale’s transfer is valued at $4.24 million based on a $0.0000085 per token price. The marker tracker noted that it appears the whale seeks to clear out the SHIB tokens acquired at higher prices in 2022.


SHIB Whale Makes 200% ROI

Despite potentially incurring a slight loss if the tokens were sold at the current market price, the whale still boasts an impressive return on investment (ROI) of over 200% from its previous SHIB trades.

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Further details provided by SpotOnChain shed light on the whale’s successful trading strategy. According to the market tracker, the trader’s estimated profit of $70 million or more was predominantly derived from strategic SHIB trades executed in 2021.

The whale entered the SHIB market as an early player in April 2021, well before the token gained significant popularity. During periods of price downturn, the whale patiently accumulated SHIB tokens at low prices, only to make massive sell-offs when the price soared.

In a particularly notable transaction, the whale offloaded a staggering 900 billion SHIB tokens to the Hotbit exchange when the token reached its peak value of $0.000065, netting a substantial $58.27 million, approximately eight times the initial investment.

Following this epic clearout, the whale shifted its focus towards re-accumulating SHIB tokens. However, the price of SHIB has been on a persistent downtrend since late 2021, which may have influenced the whale’s decision to exit its position at this juncture.


Similarly, TheCryptoBasic reported on May 25 that one of the largest Shiba Inu token holders had amassed over 140 billion token units within a 24-hour window.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

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