In a significant development within the cryptocurrency realm, an experienced investor has reemerged in the market for Shiba Inu (SHIB), the meme-inspired digital asset. According to data from Etherscan, an unidentified large investor has recently resumed activity in SHIB transactions, marking their first engagement in over two years.
This investor's previous involvement in September 2021 coincided with a notable surge in SHIB's value, rising by over 1,100% in the subsequent month.
Of particular interest is the investor's methodical approach to their SHIB holdings. Operating exclusively through the Coinbase platform, they have consistently accumulated SHIB without participating in any selling or additional transactions. Their latest acquisition, made approximately 20 hours ago, has boosted their portfolio to an impressive 836.943 billion SHIB, valued at $7.91 million.
All eyes on SHIB
This resurgence of activity from an established participant in the SHIB market has prompted speculation among SHIB enthusiasts. Memories of SHIB's rapid ascent in 2021 linger, fueling anticipation regarding the potential for a comparable surge in the current market environment. At present, SHIB is priced at $0.0000095, with market observers closely monitoring its trajectory following this significant development.
While past performance does not guarantee future results, the investor's association with a significant price increase may instill a sense of cautious optimism among Shiba Inu holders. However, caution, emphasizing the inherent volatility of the crypto market and the multitude of factors influencing price movements, is advised.