A wealthy individual who previously earned $120 million from Shiba Inu (SHIB) has re-entered the market and is once again accumulating the memecoin, as per data from blockchain analysis firm Lookonchain.

According to Lookonchain, a “SHIB super big winner” recently spent 4,849 Ethereum (ETH), valued at $18.44 million, to purchase 715.9 billion SHIB. The same individual had previously invested approximately $400,000 to buy 5.5 trillion SHIB in the early stages and later sold it for over $120 million, resulting in an impressive profit.

In addition to this, Lookonchain identified nine other wallets associated with two entities that have been making significant SHIB purchases. These wallets collectively spent $35.2 million to acquire 1.356 trillion SHIB at an average price of $0.00002596 on June 5th.

At the time of writing, SHIB is trading at $0.00002604, reflecting a 6.7% increase in the last 24 hours. On the Solana (SOL) network, Lookonchain also observed a crypto whale who had accumulated a substantial amount of the sloth-themed memecoin SLERF, resulting in six-figure losses.

This whale withdrew 2.91 million SLERF ($923,000) and 2,280 SOL ($378,000) from Gateio on June 4th, then reinvested 2,281 SOL ($378,000) to purchase 1.17 million SLERF. Since April 25th, this individual has bought a total of 11.9 million SLERF ($4.09 million) at an average price of $0.3432, currently facing a loss of $266,000.

Despite this, the trader seems to have turned a profit as SLERF is currently trading at $0.40, marking an increase of over 22% in the last 24 hours.

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