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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Sep 18, 2024 12:08 UTC
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Crypto Whale Dumps SHIB for FET & NEIRO: New Strategy Revealed?!
A large crypto investor is trying to recover losses from SHIB by investing in Fetch.AI (FET) and Neiro (NEIRO).
The investor has had mixed results with recent trades, but their FET investment is currently showing a 20.7% gain.
The investor still holds a significant amount of SHIB, but they have diversified their portfolio with ETH, FET, NEIRO and NEIROETH.
In the latest update, Spotonchain has highlighted an investor’s strategic move amidst struggling prices in the crypto market. The whale with the address 0x761, which had once made significant gains from SHIB, is now shifting its focus to other tokens, particularly Fetch.AI and Neiro on ETH, to recover from the recent losses.
Whale Swaps $2M Ethereum for NEIRO!
One of the whale’s latest moves involved swapping 1,003 Ethereum (ETH), worth $2.31 million, for 2.86 billion NEIRO tokens. This exchange happened just as NEIRO saw a dramatic 17-fold increase in its price. Despite this rise, the whale’s recent trades have shown mixed results.
Although the whale made $145 million from Shiba Inu between 2021 and 2022, their recent trades have not been as successful. Two out of their three latest trades, including the NEIRO exchange and another SHIB trade, have led to $13.48 million in losses.
A Promising Turnaround
However, in August, there seemed to be a positive turn in the whale’s strategy as they swapped a portion of their SHIB holdings for FET. On August 30, the investor exchanged 255.62 billion SHIB, valued at $3.5 million, for 3.114 million FET.
This move proved to be beneficial, as the whale held an unrealized profit of $715,000, or a 20.7% gain, due to a 14% rise in FET’s value by August 31. Notably, this swap came after the whale’s SHIB holdings had suffered a 45.9% loss since June 2024, resulting in a loss of $11.51 million.
Current Portfolio Breakdown
Currently, the whale’s largest asset is 4,960 ETH, valued at $11.537 million, making up 43% of their total portfolio. They also hold 477.511 billion SHIB, worth around $6.332 million, which represents 24% of their holdings. Their FET investments are valued at $4.235 million, or 16% of their portfolio. They also have smaller investments in NEIRO and NEIROETH, valued at $2.279 million and $1.268 million, respectively.
Also Check Out: Robinhood Strikes Back: SEC’s ‘Scorched Earth’ Crypto Crackdown Unveiled
What do you think? Will this whale win with NEIRO this time? Stay tuned to learn more!
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