The foreign media reviewed an extreme case in the early days of SHIB. An investor invested about US$ 13 million in the early stages of the project, reaching a high point in October 2021, with a book value once approaching US$ 8.9 billion. The article also mentions that the whale still sells about $4.9 million SHIB in April this year.
Early surges bring extreme returns.
SHIB jumped up fast soon after it went online in August 2020. According to the article, the early buyers had made huge gains in a short period of time and SHIB had been called “rich currency” by some supporters.
The whale still holds a lot of space.
According to Arkham, the investor sold approximately 80 billion SHIBs on 30 April, valued at approximately $4.9 million. Even so, the address is still in possession of approximately $6.25 million corresponding to the SHIB token.
Supply pressures remain the focus of the market
According to the article, the early rise of SHIB was related to the destruction of Vitalik Buterin. Buterin destroyed most of the SHIB it received, bringing about a marked contraction in supply. Today, the number of SHIBs still stands at approximately 589, trillion, and the article considers it more difficult to repeat the 2021 pattern.