‘Dogecoin killer’ expected Shiba Inu (CRYPTO: SHIB) see a major rally despite its current stagnation.
What happened
Lookonchain data highlights a ‘whale’ (investor with a large amount of digital assets) who recently sold 250 billion SHIB tokens (valued at $6.05 million) for profit. The ‘whale’ initially invested $3,800 in August 2020 to acquire 15.28 trillion SHIB, with a maximum value of $1.22 billion. Over time, it has made a profit of $108 million and has made yet another trade by depositing 399.99 billion SHIB ($9.69 million) into Gemini in the last hour.
The ‘whale’ still holds 2.15 trillion SHIB, which is currently valued at $52.18 million, bringing his total earnings to an impressive $109 million.
| Cryptocurrency | Price | Market capitalization | 24 hour trend | 7 day trend |
| Shiba Inu (CRYPTO: SHIB) | 0.00002394 | $14.1 billion | -7% | -17% |
| Dogecoin (CRYPTO:DOGE) | 0.3632 | $53.4 billion | -6% | -12% |
| Pepe (CRYPTO: PEPE) | 0.00001909 | 8.02 billion dollars | -10.8% | -22.8% |
Trader analysis
Cryptocurrency Inside, a cryptocurrency influencer and cryptocurrency meme enthusiast, shared optimism about the future of Shiba Inu.
More Read
The forecast points to significant growth in the first quarter of next year and suggests that the behavior of retail investors will drive the SHIB rally to gain serious momentum.
Shib Spain, another trader, urged the community to remain calm despite the recent price drops.
Consider that Shiba Inu remains above critical support levels. “There is no need to panic sell! #DiamondHands,” Shib Spain tweeted.
Stay calm $SHIB is still above this huge support.
Don’t need to panic sell! #DiamondHands pic.twitter.com/Ceu4Ude8bK
— Shib Spain (@ShibSpain) December 18, 2024
You can also read: Bitcoin (BTC) Hits All-Time Highs: What Risks Does MicroStrategy (MSTR) Face With Its Aggressive Strategy?
Shiba Inu Statistics
IntoTheBlock data shows a 1.4% increase in large transaction volume and a 10.4% growth in daily active addresses. Transactions over $100,000 expanded from 264 to 282 in a single day.
Shibariumscan data shows an increase in daily transactions from 4.69 million to 4.72 million in one day.
Image: Shutterstock
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