SHIB Whale Migrates $3.5M to FET Amid Price Surge and Market Loss

IconCryptoNewsTerminal Staff30 Aug, 2024

cryptonews.jpg

SHIB Whale Migrates $3.5M to FET Amid Price Surge and Market Loss

SHIB Whale Switches to FET According to SpotOnChain, a SHIB early investor has converted 255.6B SHIB (approximately $3.5 million) to 3.11 million FET in the last 10 hours. From February 2021 to June 2022, this whale made a significant $145 million profit from SHIB. However, since June, SHIB trading has resulted in an unrealized loss of $11.51 million. This loss may have prompted the whale's migration to FET, which has recently experienced a price surge. Despite the migration, the whale still holds a substantial 713 billion SHIB. This transaction highlights the volatility of the cryptocurrency market and investors' shifting strategies in response to market conditions.

Related News