Shiba Inu Trader Earns $4.72 Million as SHIB Price Skyrockets 180% Within a Week
Shiba Inu (SHIB) has experienced a significant boost in its market value, possibly due to Bitcoin reaching $63k and positively impacting the entire market. Currently ranked 12th in terms of market value, SHIB has been gaining attention for its impressive performance, even outperforming Bitcoin in recent days. Wall Street analyst Linda Jones has expressed her excitement about investing in Shiba Inu, a cryptocurrency that has been making waves in the market. In the last 24 hours alone, SHIB has seen a remarkable 22% gain, pushing its trading price to $0.00002636.
Jones’ analysis reveals that the surge in SHIB’s value is a result of an explosive rally that began just three days ago, propelling it to a multi-year high with a staggering 177% rally, surpassing the $0.000026 threshold. With a market cap of $14.5 billion, Shiba Inu is once again in the spotlight and on the verge of surpassing the top ten most prominent cryptocurrencies. SHIB has already surpassed top gainers like Polkadot (DOT), Tron (TRX), Chainlink (LINK), Polygon (MATIC), Toncoin (TON), and Bitcoin Cash (BCH), with Avalanche (AVAX) being its next target.
Despite her continued support for XRP, Jones believes in the importance of diversifying one’s investment portfolio. She notes that three of her crypto investments, including Shiba Inu, are among the best performers on a year-to-date (YTD) scale. Jones expresses great joy in seeing these investments outperform Bitcoin, highlighting the potential for significant returns in the cryptocurrency market.
On the activity front, Lookonchain, a well-known on-chain resource, sheds light on the actions of a Shiba Inu whale, a large investor, whose strategic moves have resulted in substantial profits. The whale deposited a staggering 365.36 billion Shiba Inu tokens into Binance from five different wallets, potentially aiming to take advantage of SHIB’s recent surge in value. With SHIB’s latest uptick, the whale’s Shiba Inu portfolio is now worth an impressive $7,957,540, compared to the initial $3.24 million valuation at the time of withdrawal.
Additionally, there are reports of another trader who made over $700k from Shiba Inu in just two days of holding the SHIB tokens. These success stories highlight the lucrative opportunities presented by investing in Shiba Inu amidst its remarkable surge, indicating the potential for substantial profits in the cryptocurrency market.
Looking ahead, SHIB’s price has surged 152% in the last month, now standing at $0.00002287, indicating strong bullish signs. With its market cap and momentum, some predict that it could reach $1 before Bitcoin’s halving in April 2024. However, achieving this milestone would require a massive increase of over 43,700 times its current value, presenting significant challenges and uncertainties.
Tags: Altcoins, Price Analysis