This Patient Shiba Inu Whale Pocketed $3.2M After Waiting 2.5 Years

A Shiba Inu SHIB/USD whale turned $1.68 million into $4.88 million after more than two years amid Shibarium’s key metrics showing signs of improvement.

What Happened: Spot On Chain noted a whale making a substantial profit after they initially purchased 199 billion SHIB, with an estimated cost of $1.68 million, between October 10, 2021, and September 11, 2023, from Coinbase and a decentralized exchange.

The whale then deposited all the SHIB, now worth $4.88 million, back to Coinbase, realizing an estimated profit of $3.2 million, a whopping 191% increase.

Interestingly, the whale had previously lost $176,000 in a quick trade in 2021, suggesting that this recent success may have been a result of learning the "lesson of patience."

Price Action: At the time of writing, SHIB is trading at $0.00002496, up 1.5% over the past 24 hours.

Also Read: ‘Dogecoin Killer’ Shiba Inu Pumps 6%: ‘I Felt Underexposed,’ Says Trader Who Sees More Short-Term Upside

Why It Matters: IntoTheBlock data noted a 61.3% increase in large transaction volumes to $220.04 million, while daily active addresses increased by 75.5% to 9,320. Transactions greater than $100,000 grew to 378 transactions as of May 16, compared to 281 transactions as of May 15.

Shibariumscan reported a surge in active accounts to 3,102 as of May 16 from 1,596 as of May 1,596. New accounts witnessed an increase in new accounts to 687 as of May 16 from 398 as of May 14.

The above trader's trade serves as a reminder of the volatility and risk inherent in the crypto market and how a patient trader can benefit based on making strategic decisions of holding the cryptocurrency for a longer period.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: What Does Technical Analysis Say About Dogecoin And Shiba Inu?

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