A mid-tier crypto investor, this category is often referred to on the crypto market as a “shark,” decided to get rid of his Shiba Inu (SHIB) holdings, locking in a crushing loss of 83.2% in dollar terms. As it became known thanks to data from the Arkham platform, the owner of wallet “0xb0e8” today broke a two-year silence, executing a series of transactions to the world’s largest crypto exchange, Binance.
Buy top, sell bottom: Shiba Inu (SHIB) edition
The chronology of this SHIB “hodling” episode is, to the core, a true story of crypto in a nutshell. First, two years ago, in March 2024, the “shark investor” withdrew 14.5 billion SHIB from Binance’s hot wallet. At that moment, the market value of the position was more than half a million dollars.
Then a period of inactivity followed, and for two years the wallet remained practically inactive. The only transactions during this time were various spam transfers. And just an hour ago, the investor transferred all his reserves, those same 14.5 billion SHIB, back to Binance. The position literally lost more than 83% over two years, or $422,000.
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Those who remember March 2024 know that the price of SHIB reached its latest peak at that time. In just two weeks, the Shiba Inu token rose to $0.00004546, marking an astonishing 372% increase since the beginning of March.
Now trading at $0.00000585, this means that the price of SHIB has fallen about 87% since that moment. Which means that the “shark” investor from today’s story did, in fact, buy at the very top of SHIB two years ago.