An early Shiba Inu investor has drawn new attention after locking in more profits from one of crypto’s most extreme success stories.
On-chain data shared by Lookonchain shows that the OG whale sold another 800 billion $SHIB, worth about $4.9 million, in a fresh transaction.
Key Points
- An early $SHIB whale locked in fresh profits, selling 800B tokens worth $4.9M while continuing a long-term exit strategy.
- The investor turned a $13.7K bet into over $660M profit, achieving a staggering 48,000x return from $SHIB’s rise.
- Despite selling trillions over time, the whale still holds 99T $SHIB valued at over $625M, retaining major market influence.
- Shiba Inu rose 3.4% despite the sale, signaling strong demand as price tests resistance near $0.00000655.
From $13K Shiba Inu to Billions
The investor originally spent just $13,760 to accumulate a massive 103.33 trillion Shiba Inu during the token’s early days. At the peak of the meme coin frenzy, that stash was valued at a staggering $8.9 billion, highlighting the explosive rise of $SHIB during the 2021 bull run.
Over time, the whale has been gradually taking profits. Arkham data shows the investor has already sold 4.06 trillion $SHIB for a total of $37.6 million across multiple transactions over the years.
Despite the recent sale, the whale remains one of the largest holders of $SHIB. Specifically, it still controls 99.27 trillion tokens, currently worth around $625.41 million.
That holding alone represents roughly 16.84% of $SHIB’s total supply, giving the wallet significant influence over the token’s market dynamics.
One of Crypto’s Biggest Returns
In total, the investor’s profit has now surpassed $660 million. This translates to an extraordinary 48,000x return on the initial investment, one of the most notable gains ever recorded in the crypto market.
The latest sale suggests the whale is continuing a long-term strategy of gradual profit-taking rather than exiting the position entirely.
$SHIB Price Rises Despite Whale Sale
Interestingly, the latest sale has done little to slow market momentum. $SHIB is up 3.4% over the past 24 hours, trading around $0.000006301. The move comes as Bitcoin gained a modest 0.55% to $76,430.
The price increase appears to have absorbed the whale’s selling activity, signaling strong underlying demand.
In the near term, $SHIB’s price faces resistance around $0.00000655, which marks a recent swing high. If buying pressure continues, a breakout above this level could extend gains.
On the downside, key support sits at $0.00000602. A break below this level could send $SHIB toward $0.00000580, especially if leveraged positions begin to unwind.
