30s Summary

An anonymous investor known as a “whale” owns over 10% of all Shiba Inu tokens, regarded as “dog money”. This individual reportedly holds these tokens across 150 different wallets. They have been accumulating these tokens since 2020 and despite their value reaching $5 billion at one point, the investor has chosen not to sell. The Shiba Inu’s value has increased by over 134% year-to-date, leading market watchers to expect it to become the season’s power player. Some expect a further boost due to a potential shift of investments from Dogecoin to the relatively oversold Shiba Inu.

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As it turns out, an anonymous big shot with deep pockets owns over 10% of all Shiba Inu tokens in circulation. This has got folks chattering about how the ‘dog money,’ as it’s dubbed, is being held and moved around. This mysterious whale of a holder is said to have more than 10% of all Shiba Inu coins stuffed into 150 difference wallets.

Despite the fact that these Shiba tokens were worth a whopping $5 billion at their high point, this secretive investor has been hoarding them since 2020. According to Bubblemaps, a company that keeps tabs on blockchain data, this investor bought in back in 2020 for only 38 ETH – back then, that translated into $10k. Today, their stash is worth over $2.5 billion.

And they didn’t stop there. Since October 2020, this investor has turned that initial $10k into a staggering $2.5 billion – a return on investment that’s over 250,000 times what they put in! Some are calling it the best trade in history. But what does this mean for everyone else? Well, if this whale decided to start selling off their Shiba Inu tokens, it could lead to a steep drop in the coin’s price.

Amazingly enough, despite pocketing such epic gains, our mysterious whale isn’t cashing in. They continue to hold on to their Shiba Inu stash, suggesting they think it’s got a bright future ahead.

Right now, Shiba Inu is seeing a year-to-date increase of more than 134%, and in the last month alone, it’s gone up by over 27%. While it might not be beating out some of the other popular meme coins, market watchers think Shiba Inu could become this season’s power player.

Strategists have also been keeping an eye on some key signals that suggest Shiba Inu’s price could be due for a boost. For one thing, it’s displaying what’s known as a cup-and-handle formation – a pattern that typically hints at a breakout is about to happen. This is calculated by adding the pattern’s maximum height to the breakout point.

Another interesting possibility that could give Shiba Inu a lift involves its major competitor, Dogecoin. If investors begin to pull their money out of Dogecoin and pour it into Shiba Inu, it could deliver a nice price bump. Particularly as Shiba Inu is currently very oversold against Dogecoin. So, for those keeping an eye on the memecoin market, there might just be some exciting times ahead.