Whale Loses $6.3 Million for Selling 421 Billion Tokens

A Shiba Inu whale sold 421.6 billion SHIB tokens early Sunday morning for an average price of $0.000009437. What’s surprising about this transaction is that the whale sold SHIB for a massive loss. The sell-off made the whale lose $6.32 million even after holding the tokens for two and a half years. The mysterious whale took a loss of 61.4% from exiting the SHIB token.

The whale purchased 421.6 billion Shiba Inu tokens in November 2022, days after SHIB reached its all-time high of $0.00008616. The big wallet holder had accumulated SHIB for a price of $0.0000993 and held on to it from November 2021 to February 2024.

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Shiba Inu: Whale Suffers $6.32 Billion Loss Even After Holding SHIB For 27 Months

Shiba Inu dipped relentlessly from November 2021 resulting in a massive decline in the whales’ portfolio. After having enough of waiting, the whale finally decided to jump ship and sell for a loss. The loss the whale took after selling SHIB is a staggering $6.32 million despite holding the tokens for nearly 27 months.

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The development indicates that Shiba Inu is showing no mercy in terms of a price rise. The token is testing the patience of its investors as it failed to rally for 27 months straight.

The millionaire whale is still a millionaire as he received millions, despite the loss. His status indicates that the whale can afford to lose a few million. However, that’s not the case for the average investor as every dollar counts.

Also Read: Shiba Inu: SHIB Turns $3,600 Into $19 Million in 3 Years

Leading on-chain metrics firm Spotonchain was the first to dish out the transaction. The firm posted on Twitter, “Whale 0x30e allegedly sold 421.6 billion SHIB ($3.98 million) at $0.00009437 in the past 6 hours, including Deposited 311.6 billion SHIB ($2.97 million) to Binance. Sold 110 billion SHIB for 1.01 million USDT on DEX. Truly selling now would cause the whale to lose $6.32 million (-61.4%) after 2.5 years of holding!”