thecryptobasic.com
MakerDAO CEO Rune Christensen made more profits on Shiba Inu trading than Tron CEO Justin Sun, as the latter made an early exit from the SHIB market.
These industry veterans’ Shiba Inu trades recently came into the spotlight as crypto analytics platform Lookonchain pointed out the profits and losses made by Rune and Justin Sun as SHIB hit multi-year highs this week.
Lookonchain noted that Rune Christensen sold off some of his SHIB holdings and acquired 619 MKR for approximately $1.3 million at an average price of $2,100.
The Game-Changing Shiba Inu Moves
Per the Lookonchain data, Rune injected 500,000 USDC to buy 25 billion SHIB in two tranches on March 1 and Mar 4, respectively.
Rune then sold about 8 billion SHIB for approximately $245,500 in USDC. Following the selloff, the Maker DAO CEO still has a total of 17 billion SHIB worth $531,000 in his portfolio, indicating that he made a profit of about $275,000.
Rune(@RuneKek, co-founder of #Maker) sold $SHIB for profit and bought 619 $MKR($1.3M) at $2,100 10 hrs ago!
He spent 500K $USDC to buy 25B $SHIB on Mar 1 and Mar 4, then sold 8M $SHIB for 245.5K $USDC, with 17B $SHIB($531K) left, making ~$275K.https://t.co/pySiO1GApD pic.twitter.com/ELzWR7s6Kh
— Lookonchain (@lookonchain) March 6, 2024
Justin Sun has a history of buying and selling Shiba Inu, with billions of SHIB traded over the past few months.
According to the Lookonchain data and as reported earlier by The Crypto Basic, Justin Sun deposited 20 billion SHIB to Poloniex and sold 8.18 billion SHIB for 212,560 USDC as of March 4.
If he had not sold prematurely, Justin Sun might have made over $359,838.2 when the price of Shiba Inu soared to an intra-day high above $0.00004 on March 6.
Bigger Boom Ahead
Despite the relative loss incurred from the early exit, Justin Sun now holds 524 billion SHIB worth $14 million. Sun boasts a profit worth $9.5 million based on the current market valuation.
Depending on when he plans to sell his remaining SHIB holding, Justin Sun and Run Christensen will likely make more profit if the price of the token keeps soaring.
There is an ongoing correction, with the token’s price and market capitalization down by 10.53% in 24 hours to $0.00003662 and $21,563,330,136.