Shiba Inu Super Diamond Trader Liquidates Holdings, Followed By A Secret Message
Release: 2024/05/28 02:49 Reading: 848
- Original author：Coingape News Media
- Original source：https://coingape.com/?p=199067
Shiba Inu smart money that purchased 48.09 billion SHIB in February 2021, a time when the price was trading at $0.00000001, has finally liquidated its holdings in Shiba Inu. Is this bearish for SHIB price, or is a rally still in effect?
Dormant SHIB Whales Dump All SHIB Holdings
Shiba Inu tokens held dormant for 3.5 years were moved today as all 48.09 billion SHIB were swapped to 278.7 ETH in an MEV bot transaction. Transaction data revealed this was an MEV bot transaction executed at 03:20 PM UTC on May 27.
Maximal Extractable Value (MEV) Bot
An MEV bot is a software tool designed to monitor the Ethereum blockchain for new transactions, identify high-value opportunities, and automatically carry out these transactions for their users. Lookonchain, an on-chain expert, said the "super diamond trader" finally sold the SHIB it bought in 2021 for just 2 ETH, worth $2,625. The Ethereum whale made $1.1 million in profit, which is a 419x return on investment.
Bearish or Bullish for SHIB Price?
While the smart trader sold all SHIB, the transaction is not bearish for SHIB price due to the MEV bot transaction. The ETH price rally of 25% in a week is likely the reason behind the transaction.
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