Dormant SHIB Whale Stirs, Here's What He Did First

"Smart Money" tracker @lookonchain spreads the word that a $SHIB whale who stayed inactive for a year, has "awakened."

This wallet contains $7.5 million in Shiba Inu – that is 756,048,387,096 $SHIB meme coins.

Here's what whale bought first

The first thing the whale did, per @lookonchain's tweet, was to begin to buy other meme cryptocurrencies. He bought six coins – $PEPE, WOJAK, AFY, Dione, DMTR and VAI.

In addition to that, the whale also grabbed 179 million $FLOKI from Flokitars Deployer.

Early $SHIB buyer sells for healthy profit

The above-mentioned source revealed that the whale initially bought 1 trillion Shiba Inu very early, paying 10 $ETH for it (worth $15,118 back at the time of the purchase, roughly $1,510 per $ETH).

After $SHIB surged in price, the whale sold 703 billion of this meme coin, earning 676 $ETH - $2.24 million. He also sold 300 billion $SHIB on Binance once the coin was listed there and got another $5.3 million. That is a total profit of $7.5 million.

1/ A SmartMoney who made ~$7.5M on $SHIB woke up after more than a year of dormancy and bought 6 #MEME coins.

Including $PEPE, $WOJAK, $AFY, $Dione, $DMTR, $VAI.

He is also very lucky to get 179M $FLOKI ($9,378) from Flokitars Deployer. pic.twitter.com/dV0wCirFVT

— Lookonchain (@lookonchain) May 5, 2023

This whale turned $260 into $8 million with $PEPE

According to a recent tweet of Arkham, a dimethyltryptamine.eth wallet bought $260 worth of $PEPE meme coin early, right after launch.

By now, as the coin has been listed both on Binance and Bitfinex and its price went through the roof, this investment of $260 has turned into nearly $8 million, as can be seen on the screenshot.

News just in that $PEPE is getting listed on Binance.

Remember dimethyltryptamine.eth?

He still hasn't sold, and his account is now worth almost $8M.

All from a buy of $260. pic.twitter.com/UDqIZarr00

— Arkham (@ArkhamIntel) May 5, 2023

Earlier today, CZ of Binance reminded the community that meme coins are high-risk assets. He stated that nobody is forcing the crypto community to buy them and that they should DYOR – "do your known research."

Aside from $PEPE, Binance has listed popular $FLOKI meme coin. However, later, it announced that deposits for $PEPE and $FLOKI were suddenly suspended due to technical difficulties.

$PEPE and $FLOKI were to trade against TUSD and USDT stablecoins.