According to on-chain data from blockchain tracking firm Lookonchain, a long-time holder of Shiba Inu (SHIB) has recently made significant profits after selling their memecoin. The patient investor sold over 48 billion SHIB, resulting in a gain of 419 times their initial investment. This individual had held onto the digital asset for more than three years before selling. In February 2021, they purchased SHIB for $2,625 and recently sold it for $1.1 million, earning a profit of over $1.09 million.

After remaining inactive for three and a half years, the super diamond trader finally decided to sell SHIB at a profit. Their initial investment of two ETH ($2,625) allowed them to acquire 48.09 billion SHIB on February 1st, 2021. On May 27th, they sold their holdings for 278.7 ETH ($1.1 million), resulting in a gain of 419 times their investment.

As of the time of writing, SHIB is trading at $0.00002569, experiencing a nearly 1% increase in the last 24 hours.

Lookonchain also observed that another trader made substantial profits by trading Ethereum (ETH) this month. Additionally, they had accumulated nearly 18,000 ETH between 2017 and 2020, resulting in significant gains when they sold their holdings in March.

This savvy trader sold 3,025 ETH for 11.8 million DAI at $3,904 on May 28th, earning a profit of approximately $1.11 million. Furthermore, they had acquired 17,770 ETH from 2017 to 2020 at an average price of $182 and sold it for $3,503 on March 28th, 2024, earning a profit of around $59 million.

It is important to note that the opinions expressed in this article are not investment advice. Investors should conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Transfers and trades are done at the individual’s own risk, and any losses incurred are their responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor do they provide investment advice.