- A whale swapped 255.62B SHIB for 3.114M FET, signaling a shift in strategy after recent losses.
- The whale’s SHIB-to-FET trade follows a $145M profit from earlier SHIB trading, but it now faces a $11.51M loss.
- Despite shifting to FET, the whale still holds 713B SHIB, hinting at a long-term strategy with mixed investments.
Analytical platform Spot On Chain reported that investors have recently changed their approach, deciding to exchange a significant amount of SHIB for FET. This comes as a significant trade as the investor has a huge amount of cryptocurrency. Over the last 10 hours, 255.62 billion tokens, which is equivalent to about $3.5 million were exchanged for 3.114 million FET tokens.
This change in strategy comes after a time in which the whale has had much success, but has also suffered much failure. In the first round of SHIB trading that occurred from February 2021 to June 2022, the investor made a profit of $145 million thus achieving a 52x return on the investment made.
This success made the whale one of the major force in meme coin market. But the subsequent trading period has not been as good at all. Since June 2024, the whale has faced an unrealized loss of $11. 51 million, which is a 45.9% loss in the value of their investment portfolio was recorded by the investors.
Strategic Shift: SHIB to FET
This seems like a strategic move to change SHIB for FET in light of the current market changes. FET has also shown an increased price of about 14% which makes it a good investment in contrast to token that is having a tough time. As such, the whale may have decided to invest in FET to reduce some of the losses made in coin and ride on the FET price rally.
However, the whale still has a notable presence in SHIB, holding 713 billion tokens worth approximately $10 million. Nevertheless, this recent decline in purchases indicates that the whale may still consider SHIB to be a profitable investment in the long run. The partial shift to FET suggests that they are implementing a hedging strategy in order to manage risks and returns on different assets in their portfolio.
Given this scenario, other investors and analysts within the crypto community may pay keen interest to the activities of this whale. The actions taken by the whale may give a clue on the direction of the market and the way big investors are approaches the challenges that are presented by the changing environment of the crypto market.
