Shiba Inu (SHIB) Sees Surge in Acquisitions by Early Investors

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Spot On Chain recently revealed significant activity in the Shiba Inu (SHIB) token market. Early investors are once again acquiring substantial amounts of SHIB, nearing one trillion tokens. This sudden influx into old wallets has sparked speculation about a potential price pump similar to the 2021 bull run.

Notably, one early buyer whale spent 1,000 WETH, approximately $3.83 million, to acquire 149.3 billion SHIB. This buyer deposited these tokens from a wallet that had initially acquired 5.16 trillion SHIB for just 45 ETH in March 2021. Remarkably, the buyer still holds 1,169 WETH, worth about $4.45 million, which could be used for additional SHIB purchases. This strategic move indicates a calculated investment approach, suggesting a bullish outlook on SHIB’s future.

An early buyer entity with $145M profit from $SHIB is re-buying the token after 2 years!

In the past 5 hours, the entity swapped 4,849 $WETH ($18.5M) for 715.8B $SHIB, pumping the price by 4.6%.

The entity still holds 9,207 $ETH and $WETH ($34.9M) and may continue to buy more! pic.twitter.com/KwjVJ8KLs5
— Spot On Chain (@spotonchain) June 5, 2024

Return Of a Major Early Investor

Another early investor has re-entered the market after a two-year hiatus. Over the past few hours, this entity purchased 4,849 WETH worth of SHIB, totaling 715.8 billion tokens. This acquisition has already impacted the SHIB price positively. With 9,207 ETH and WETH, valued at approximately $34.9 million, still in their possession, this investor might continue to accumulate SHIB.

Their return to the market signifies renewed confidence in the token’s potential. The Shiba Inu token, introduced in 2021, reached a peak price of $0.0000857 during the bull market. However, it is currently trading at $0.0000262. Despite the lower price, the renewed interest from early investors suggests a strong belief in SHIB’s future prospects. This wave of strategic investments and calculated acquisitions by these early players could signal a bullish trend for Shiba Inu, reminiscent of the gains seen in 2021.

Market Enthusiasts Watch Closely

As these early investors make significant moves in the SHIB market, enthusiasts are watching closely. The substantial investments and strategic acquisitions by these super early investors could indicate a bullish trend for Shiba Inu. Nonetheless, it remains to be seen whether this activity is driven by genuine anticipation of a bull market or mere speculation.

The recent actions of early SHIB investors highlight a renewed interest in the token, potentially heralding a bullish phase similar to that of 2021.