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After eight months of silence, a first Shiba Inu (SHIB) The investor, identified by the wallet address “0xd6b”, has reappeared, as reported Spot on the channel. Known for his mind-blowing gains with the meme-inspired cryptocurrency, this whale has now divested a significant portion of his holdings, depositing 100 billion tokens, valued at approximately $2.81 million, on Gemini – one of the leading American crypto exchanges.
The move follows a prolonged holding period, with 2.5 trillion SHIB, currently valued at $73 million, still remaining in this whale’s wallet.
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With a total profit of approximately $120 million from SHIB holdings, achieving a return of 415%, the reactivation of this portfolio closely aligns with SHIB’s recent price surge. The Shiba Inu token has soared 61% since early November, hitting multi-month highs and approaching strong local resistance at $0.00003.
What’s Next for Shiba Inu (SHIB) Price?
While this price level historically represents a difficult threshold for further advances, current dynamics highlight renewed interest and investment in the cryptocurrency as it positions itself for potential gains or corrections based on reactions of the market.
Now firmly among the top 10 cryptocurrencies by market cap, SHIB ranks 10th with a market cap of approximately $16.98 billion. Trading activity also soared, with a staggering $5.48 billion in daily volume, and that was in the spot market alone.
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As the biggest holders return to the Shiba Inu As proof, the price of cryptocurrency could continue to put traders’ nerves to the test, especially since such large-scale profit-taking can trigger market reactions. The next few rounds of trading will likely show just how much SHIB can hold up, as it faces its next key resistance levels, which are being closely watched by long-term investors and active traders.