Are Early Shiba Inu Investors Still Bullish? Whale Purchases SHIB Worth Approximately $8.32 Million

A major Shiba Inu (SHIB) investor has made headlines by purchasing SHIB worth $8.32 million, marking their first purchase in nearly three years.

On-chain analysis platform “Spot On Chain” reports this whale exchanged 1,000 WETH for 149.3 billion SHIB on June 5, 2024.

With holdings now totaling 323.1 billion SHIB, expectations are rising for further price increases amid new SHIB-related project developments.

SHIB Early Investor Makes First Purchase in Nearly Three Years

A major holder who invested in Shiba Inu (SHIB) during its early stages has started purchasing SHIB again after nearly three years.

According to a report by “Spot On Chain,” an on-chain analysis platform, this whale exchanged 1,000 WETH, equivalent to approximately $3.83 million, for 149.3 billion SHIB on June 5, 2024.

Additionally, the report indicates that this whale still holds 1,169 WETH, equivalent to approximately $4.45 million, suggesting the possibility of further SHIB purchases.

Currently Holding a Total of 323.1 Billion SHIB

The whale, who has garnered significant attention, initially held about 149.3 billion SHIB at the time of the report. However, they appear to have continued purchasing SHIB, with their holdings now amounting to 323.1 billion SHIB at the time of writing.

At current prices, 323.1 billion SHIB is equivalent to approximately $8.31 million.

It seems the owner of this wallet has exchanged nearly all their assets for SHIB, with the majority of the wallet’s balance now comprising SHIB at the time of writing.

Although SHIB’s price fell after rising to around $0.000046 in March this year, recent developments and numerous news reports on new SHIB-related projects have heightened expectations for further price increases.

It was also recently reported that “an early SHIB investor took profits for the first time in three and a half years,” but some major early-stage investors still seem to anticipate further growth in SHIB.

>> For the latest SHIB-related news, click here