An individual who previously earned $120 million from Shiba Inu (SHIB) has been identified as once again accumulating the memecoin, as per on-chain data from the blockchain tracking firm Lookonchain.

Lookonchain has revealed that this “SHIB super big winner” recently spent 4,849 Ethereum (ETH), valued at $18.44 million at the time, to purchase 715.9 billion SHIB.

The firm states, “This individual initially spent only about $400K to acquire 5.5 trillion SHIB in the early stages and sold it for approximately $121 million at two peaks. They have already made more than $120 million from SHIB, which is an incredible profit!”

In addition to this, Lookonchain has also observed nine other wallets linked to two entities that are engaging in significant SHIB purchases.

“Nine wallets (two of them belonging to whales) spent $35.2 million to purchase 1.356 trillion SHIB at an average price of $0.00002596 [on June 5th]!”

At the time of writing, SHIB is trading at $0.00002604, showing a 6.7% increase in the last 24 hours.

Furthermore, Lookonchain has identified a crypto whale on the Solana (SOL) network who has been facing substantial losses after continuously accumulating the sloth-themed memecoin SLERF.

“A whale withdrew 2.91 million SLERF ($923,000) and 2,280 SOL ($378,000) from Gateio [on June 4th]. Subsequently, the whale spent 2,281 SOL ($378,000) to purchase 1.17 million SLERF. Since April 25th, this individual has bought 11.9 million SLERF ($4.09 million) at an average price of $0.3432 and is currently experiencing a loss of $266,000.”

As of now, Slerf is trading at $0.40, marking an increase of more than 22% in the last 24 hours, suggesting that the trader is now in profit.

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