- A seasoned trader switches strategies after an untimely SHIB sell.
- Two Neiro tokens with the same ticker behave completely oppositely.
- Kamala Harris’s Remarks on AI and Cryptocurrencies Spark Rally in Top AI Coins
Early Shiba Inu (SHIB) investors who made $145 million from the Japanese hunting dog-themed token in 2021-2022 have recently succumbed to losses of tens of millions of dollars. A particularly costly transaction took place between August 31, 2024 and September 6, 2024, when a major player sold 491,229B Shiba Inu coins for $6.63 million.
Untimely play in SHIB extends to NEIRO
This is a massive 45% loss on the original investment. The major SHIB holder previously bought 968.252B Shiba Inu tokens for $25.06M, which was around $0.00002589. Despite the incident, this large investor still seems to believe in SHIB. They still hold 477.511B SHIB coins, which are worth $7.29M.
On the other hand, Ethereum traders have experienced a similar negative return on investment (ROI) in Neiro On ETH (NEIRO). Since buying at a local high of $0.15 per coin on September 6, 2024, the investment of major players has decreased from $2.7 million to $1.51 million. In addition to the two badly timed trades, early SHIB investors have also recovered some of the losses incurred in two other altcoins.
Fetch.AI catches whales in the trenches
It is worth noting that the aforementioned crypto whale holds both versions of the Neiro token, which was recently thrown into disarray by Binance’s surprise listing. After purchasing Neiro On ETH (NEIRO) on September 6, 2024, the SHIB Army member imitated another meme coin with the same ticker symbol.
According to blockchain intelligence platform SpotOnChain, the unrealized profit of the whales who bought 2.856 billion NEIRO tokens at a total cost of $2.31 million has soared to $3.35 million, making it the only profitable major trade outside of Fetch.AI (FET).
An early adopter of Shiba Inu Coin successfully demonstrated his market timing skills by buying the dip at $1.11 on August 31, 2024. The crypto whale spent $3.458 million for 3.114 million FET tokens, which he renamed to Artificial Superintelligence Alliance (ASI).
In particular, Fetch.AI (FET)’s 25% gain in September came as Kamala Harris acknowledged AI and cryptocurrencies as innovations worth nurturing at a New York fundraiser. At the time of writing, FET is priced at $1.69, meaning that if this gain is realized for a short time, the cryptocurrency whale in question could potentially make a profit of $1.77 million.
On the other side
- Ethereum (ETH) remains the largest asset in this crypto whale’s portfolio, accounting for $13.035 million out of the total $32.414 million.
Why this matters
Tracking the movements of knowledgeable investors can help you understand both the risks and rewards of cryptocurrency trading.
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