Diamond Hands Shiba Inu Whale Switches to These 2 Crypto

An early investor in Shiba Inu, renowned within the crypto community for their steadfast “diamond hands” approach, holding assets through market volatility, has recently shifted their investment strategy. 

This individual, who reaped a $145 million profit from Shiba Inu trades between February 2021 and June 2022, is now diversifying their holdings into $NEIRO and $FET. This move reflects a broader trend of investors seeking opportunities in beyond their initial successes.

Crypto Whale Swaps Shiba for $NEIRO and $FET

Detailed data from Spot On Chain reveals that this seasoned investor has reduced their Shiba Inu holdings, reallocating these resources to $NEIRO and $FET. The move involved swapping a portion of their Shiba Inu for 2.86 billion units of $NEIRO following a major price rally where the meme coin experienced a 17-fold increase in value. 

This whale, in just five days, made an unrealized profit of $1.07 million from $NEIRO. Simultaneously, the investor acquired 3.114 million units of $FET, a cryptocurrency that has risen by about 20.7% since the acquisition.

The pivot to $NEIRO and $FET appears driven by both the recent performance and the unique value propositions of these tokens. $NEIRO, a new entrant in the meme coin market, has quickly captured investor interest with its trading volume and rapid adoption on major cryptocurrency exchanges like Binance and KuCoin. 

The coin’s integration into popular trading platforms almost immediately after its launch has contributed to its over 115% NEIRO price increase and high market visibility.

On the other hand, $FET, stands out due to its foundation in artificial intelligence technologies. This appeals to investors interested in innovative uses of blockchain for real-world applications. More so, the technology behind $FET facilitates automated solutions and decentralized algorithms. Concurrently, AI Cryptocurrencies are poised for growth as more industries integrate AI into their operations.

Impact of Shibarium’s Liquid Staking on Shiba Inu Price

Despite the whale shift, the introduction of liquid staking on Shibarium is anticipated to be a game-changer for SHIB valuation. This new feature allows users to stake their coins while retaining liquidity, a move that will increase the token’s price.

In addition, the Shiba Inu community has also implemented a strategic burn rate increase, which has spiked by over 700% recently. This reduction in supply is designed to create scarcity, thereby leading to a potential 36% rally. The concerted effort to reduce supply and add functional improvements presents a compelling case for SHIB price rally.

At the time of writing,  Shiba Inu price was $0.00001436, a 8% rally in the last seven days.  $NEIRO has experienced a 41% surge in the last 24 hours with $FET price showing a modest 5% surge.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.