Dormant ‘Diamond’ Hand Shiba Inu Trader Prints 419X Gain After Holding for 3.5 Years: Lookonchain
Release: 2024/05/29 20:19 Reading: 283
Shiba Inu Holder Sells for Massive Profit
Blockchain data from Lookonchain reveals a long-term Shiba Inu (SHIB) holder who recently sold their memecoin holdings for a substantial gain.
Significant Investment and Returns
The patient investor purchased 48 billion SHIB in February 2021 for approximately $2,625. After holding the digital asset for over three years, they sold their holdings for $1.1 million, resulting in a staggering 419x return.
Trader's Journey
"After remaining inactive for three and a half years, the seasoned diamond hand trader finally sold SHIB at a profit. They invested two ETH ($2,625) to acquire 48.09 billion SHIB on February 1st, 2021, and sold it for 278.7 ETH ($1.1 million) [on May 27th], securing a 419x gain!"
Ethereum Trader's Success
Lookonchain also observed that a savvy trader profited significantly from Ethereum (ETH) trading this month. The trader had accumulated nearly 18,000 ETH between 2017 and 2020 and sold a portion of their holdings in March for a substantial gain.
"A smart money investor sold 3,025 ETH for 11.8 million DAI at $3,904 [on May 28th], realizing a profit of approximately $1.11 million. This same investor had acquired 17,770 ETH from 2017 to 2020 at an average cost of $182 and sold it at $3,503 on March 28th, 2024, generating a profit of around $59 million!"
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Source: Lookonchain/X
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