According to on-chain data from blockchain tracking firm Lookonchain, a long-time holder of the memecoin Shiba Inu (SHIB) has made significant profits after selling their investment. The patient investor sold over 48 billion SHIB, resulting in a 419x gain. They had held onto the digital asset for more than three years. The investor initially purchased the rival to Dogecoin (DOGE) in February 2021 for $2,625 and recently sold their holdings for $1.1 million, resulting in a gain of over $1.09 million.

“After remaining inactive for three and a half years, the super diamond trader finally sold SHIB at a profit. They spent 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, resulting in a gain of 419x!”

As of now, SHIB is trading at $0.00002569, experiencing an increase of nearly 1% in the last 24 hours.

Lookonchain also observed that another savvy trader made a quick profit by trading Ethereum (ETH) this month. Additionally, this trader made substantial gains by selling ETH in March after accumulating nearly 18,000 ETH between 2017 and 2020.

“A smart investor sold 3,025 ETH for 11.8 million DAI at $3,904 on May 28th, resulting in a profit of approximately $1.11 million. This smart investor also accumulated 17,770 ETH from 2017 to 2020 at an average price of $182 and sold it for $3,503 on March 28th, 2024, making a profit of approximately $59 million!”

Source: Lookonchain/X

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