An early investor in Shiba Inu, known in the crypto community for holding onto his assets despite market volatility, has recently changed his investment strategy. Having made $145 million in profits from trading SHIB between February 2021 and June 2022, he is now selling and accumulating NEIRO and FET instead of SHIB.
Investors Switch From SHIB to $NEIRO and $FET
According to data from Spot On Chain, this experienced investor has reduced his Shiba Inu holdings and reallocated his resources to NEIRO and FET. After the meme coin gained 17x in value, the closely watched early-stage investor sold some of his Shiba Coins and bought 2.86 billion NEIRO.
At the same time, this investor accumulated 3.114 million units of FET Coin, which gained approximately 20.7% in value.
Reasons for New Investments
The shift towards NEIRO and FET appears to be related to the recent performance and unique value propositions of these tokens. A new entrant to the meme coin market, NEIRO has attracted investor interest due to its trading volume and rapid adoption on major cryptocurrency exchanges such as Binance and KuCoin.
The coin’s integration into popular trading platforms immediately after its launch contributed to a price increase of more than 115% and high awareness.
On the other hand, FET stands out because it is based on AI technologies. This appeals to investors interested in innovative uses of blockchain for real-world applications. The technology behind FET facilitates automated solutions and decentralized algorithms. At the same time, AI cryptocurrencies are expected to grow as more industries integrate AI into their operations.
Shibarium’s Liquid Staking Feature
Despite the whale’s change of direction, Shibarium’s introduction of liquid staking is seen as a significant step forward for SHIB’s valuation. The new feature could boost the token’s price by allowing users to stake their coins while maintaining liquidity.
In addition, the Shiba Inu community has recently accelerated the burning of tokens, although not in large numbers, the acceleration of this is motivating for the community. This reduction of supply aims to create scarcity, potentially paving the way for a 36% rally. The reduction of supply and the addition of functional improvements present a positive picture for the SHIB price.
At press time, the Shiba Inu price was at $0.00001436, up 8% in the last seven days. NEIRO is up 41% in the last 24 hours, while FET is up 5% in the same period.
The investor’s transition from SHIB to NEIRO and FET is an indicator of the dynamics in the cryptocurrency market and the rapid adaptation of investors to new opportunities. Shiba Inu seems to maintain its potential with developments such as liquid staking and an increase in burn rate.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
