A long-time holder of Shiba Inu (SHIB) has made a significant profit after selling the memecoin, according to on-chain data. The investor, who had held onto the digital asset for more than three years, sold over 48 billion SHIB for a gain of more than 419 times the initial investment. This sale resulted in a profit of over $1.09 million, with the investor initially purchasing the SHIB for $2,625 in February 2021.

The investor's decision to sell the SHIB came after a prolonged period of dormancy, with the asset being held for over three and a half years. The sale was made on May 27th, with the SHIB being traded for 278.7 ETH, which is equivalent to $1.1 million at the current market price. This significant gain highlights the potential for long-term investors to reap substantial profits in the cryptocurrency market.

SHIB is currently trading at $0.00002569, up nearly 1% in the last 24 hours. This recent price movement, combined with the significant gain made by the patient investor, underscores the potential for cryptocurrency traders to make substantial profits in the market.

In addition to the SHIB sale, Lookonchain also noticed that one savvy trader made a quick profit trading Ethereum (ETH) this month. The trader sold 3,025 ETH for 11.8 million DAI at $3,904 on May 28th, resulting in a profit of approximately $1.11 million. This trader also made massive gains selling ETH in March after accumulating nearly 18,000 ETH between 2017 and 2020.

The trader initially purchased the ETH at an average price of $182 and sold it at $3,503 on March 28th, 2024, resulting in a profit of approximately $59 million. This significant gain highlights the potential for traders to make substantial profits in the cryptocurrency market by accumulating and holding onto assets over extended periods.

These recent transactions demonstrate the potential for cryptocurrency traders to make significant profits in the market. The patient investor who sold SHIB and the savvy trader who made gains trading ETH both benefited from holding onto their assets for extended periods, highlighting the importance of long-term investment strategies in the cryptocurrency market.