The spectacular price gains of Shiba Inu (SHIB) in recent months have earned some traders significant profits. For example, a certain SHIB whale could have realized a profit of as much as $10 million if he had held his position longer.

Explosive profits and missed opportunities

On-chain data from the Shiba Inu network shows that some SHIB traders have made huge profits during the memecoin’s explosive price rise. A notable example is a whale who bought $4,000 worth of SHIB tokens in April 2021, when the altcoin was still worth around $0.00000003.

As the price of the memecoin rose, this investor sold some of his SHIB tokens to recoup his initial $4,000 investment, which in retrospect turned out to be a costly decision.

The price of SHIB continued to rise, and the whale sold more coins in April and May 2021. When SHIB’s price reached $0.0000010, about 30 times the purchase price, the whale sold all his Shiba Inu coins. In the end, the trader’s profit was $800,000.

While the $800,000 profit is already impressive compared to the original $4,000 investment, the whale could have made significantly more. During the 2021 bull market, SHIB’s price reached an all-time high of $0.000088. If the investor had not sold his Shiba Inu coins, he could have owned coins worth as much as $10.8 million at that point.

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