Shiba Inu (SHIB) has drawn attention after a notable 65% increase in its weekly rally. A savvy investor, known as a whale, capitalized on the rally by selling 100 billion SHIB tokens for a substantial $2.85 million profit. Despite this sale, the whale continues to hold an impressive 2.5 trillion SHIB tokens, showcasing their confidence in the cryptocurrency.
The whale's initial investment of just $3,800 in 2020 proved extremely fruitful, with potential growth reaching up to $1.22 billion at SHIB's peak. This reflects the massive profit potential in the volatile cryptocurrency market. Within 24 hours, SHIB's price rose by 16%, highlighting its rapid growth momentum.
Another prominent trader also engaged in profit-taking by selling 83.36 billion SHIB tokens while retaining a substantial 373.26 billion tokens. This action indicates ongoing interest and optimism in SHIB's future prospects among large holders.
Additionally, SHIB's burn rate has surged, with nearly half a billion coins being destroyed. This burn trend contributes to reducing token supply, potentially influencing price dynamics and enhancing SHIB's appeal to traders and holders.
