- A seasoned trader switches strategy after an untimely SHIB sell-off.
- Two Neiro tokens with the same ticker play out completely opposite.
- Kamala Harris’ remarks on AI & crypto ignite a rally for top AI coins.
An early Shiba Inu (SHIB) investor, who made $145 million on the Japanese hunting dog-themed token back in 2021-2022, has recently succumbed to losses in the tens of millions. Some particularly costly trades were made between August 31, 2024 and September 6, 2024, when the major player offloaded 491.229B Shiba Inu coins for $6.63 million.
Ill-Timed Play On SHIB Extends To NEIRO
This marked an eye-watering 45% deficit from the original investment, as the major SHIB holder previously bought 968.252B Shiba Inu tokens for $25.06M, at an approximate price of $0.00002589. Despite the mishap, the large investor seems to remain a believer in SHIB, as they are still holding 477.511B SHIB coins, worth $7.29 million.
On the other hand, the Ethereum trader incurred a similar negative return on investment (ROI) with Neiro On ETH (NEIRO). Buying at a local top of $0.15 per coin on September 6, 2024, the major player’s investment has shrunk from $2.70 million to $1.51 million since. Aside from the two badly-timed trades, the early SHIB investor made back some of the losses on two other altcoins.
Fetch.AI Picks Up Whale From Trenches
It’s fair to note that the aforementioned crypto whale holds both versions of the Neiro tokens, which were recently entangled in confusion upon Binance’s surprise listing. After the September 6, 2024 purchase of Neiro On ETH (NEIRO), the SHIB Army member aped the other meme coin with the same ticker symbol.
Buying 2.856 billion NEIRO tokens at a total cost of $2.31 million, the whale’s unrealized profits have soared to $3.35 million, according to blockchain intelligence platform SpotOnChain. This concludes as the only profitable major trade, aside from Fetch.AI (FET).
The early Shiba Inu coin buyer used his market timing prowess successfully on August 31, 2024, buying the dip at $1.11. The crypto whale spent $3.458 million on 3.114 million FET tokens, rebranded as Artificial Superintelligence Alliance (ASI).
Notably, a 25% upswing this September for Fetch.AI (FET) came alongside Kamala Harris’ recognition of artificial intelligence (AI) and crypto as innovations worth nurturing during a New York fundraiser. As of press time, FET is priced at $1.69, which potentially brings the crypto whale in question to a $1.77M profit, if the gains would be momentarily realized.
On The Flipside
- Ethereum (ETH) remains the largest asset in the crypto whale’s portfolio, comprising $13.035M of the total $32.414M.
Why This Matters
Tracking the moves of knowledgeable investors showcases both the risks and rewards of crypto trading.
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