A ‘super diamond trader’ who acquired 48.09 billion Shiba Inu (SHIB) tokens in February 2021 has liquidated their holdings, swapping them for 278.7 ETH. This transaction, executed via an MEV bot, concluded 3.5 years of dormancy and resulted in a 419x return on investment, equating to a $1.1 million profit.
This historical sale, driven by a recent 25% rally in Ethereum’s price, is not seen as bearish for SHIB. Instead, it has sparked a 6% increase in SHIB’s price over the past 24 hours, with the token trading between $0.00002417 and $0.00002615. Additionally, trading volume has surged by over 165%, indicating heightened interest among traders.
Coinbase’s announcement of offering 1000SHIB perpetual contract trading from May 30 further bolsters SHIB’s market outlook. The transaction also included a secret message appreciating the trader’s profitable exit. This event highlights the potential for significant returns in the cryptocurrency market and underscores the importance of strategic timing in liquidations.
