According to cryptocurrency analysis firm LookOnChain, a Shiba Inu (SHIB) diamond trader has become active after 3.5 years of dormancy. The trader spent 2 ETH, worth around $2,625, to buy 48.09 billion SHIB tokens on Feb. 1, 2021, when the token was trading for around $0.00000001. The trader sold their SHIB holdings for 278.7 ETH, worth around $1.1 million, a gain of 41,804%, or 419X.

After being dormant for 3.5 years, the super diamond trader finally sold $SHIB at a profit.

He spent 2 $ETH($2,625) to buy 48.09B $SHIB on Feb 1, 2021, and sold it for 278.7 $ETH($1.1M) just now, a gain of 419x!

— Lookonchain (@lookonchain) May 27, 2024

Also Read: Shiba Inu: AI Predicts SHIB Price For May 31, 2024

SHIB had an incredible run in 2020-2021. From its launch in August 2020 to its all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent. Investors who purchased SHIB in late 2020 or early 2021 made millions of dollars in profit.

Shiba Inu (SHIB) to hit a new all-time high soon?

SHIB is currently down by over 71% from its 2021 peak. However, the popular dog-themed cryptocurrency might reclaim its all-time high soon.

According to CoinCodex, Shiba Inu (SHIB) could surge to $0.00008371 on June 25, 2024. Reaching $0.00008371 from current levels would translate to a rise of about 238.3%. Moreover, the $0.00008371 is very close to SHIB’s all-time high. If SHIB reaches $0.00008371, its price may surpass its 2021 peak.

Source: CoinCodex

Changelly also paints a bullish picture for SHIB in June. The platform anticipates SHIB to hit $0.00008373 on June 24, 2024, a similar prediction to CoinCodex.

Also Read: Shiba Inu: How High Can SHIB Go If Bitcoin Hits $700,000

Telegaon, on the other hand, is more bullish on Shiba Inu (SHIB). The platform predicts SHIB to hit a maximum price of $0.0000601 in 2024. Reaching $0.0000601 from current levels would entail a growth of about 142.9%.

Nonetheless, all three platforms anticipate SHIB to rally this year. Whether or not the asset hits a new all-time high is yet to be seen. Given a positive market environment, SHIB is one of the most popular cryptocurrencies and may witness a sudden price spike.


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