Early SHIB Investor Swaps Tokens for FET Amid Losses

According to Odaily, a notable early SHIB investor has recently exchanged a significant portion of their SHIB holdings for FET tokens. Over the past 10 hours, this whale converted 255.62 billion SHIB, valued at $3.5 million, into 3.114 million FET tokens. This move comes after the investor initially made substantial profits from SHIB, earning $145 million with a 52-fold return between February 2021 and June 2022. However, their recent SHIB transactions have not been as successful, with an unrealized loss of $11.51 million (-45.9%) since June 2024. The switch to FET appears to be a strategic decision, as FET's price has risen by 14%. Despite this recent activity, the whale still holds 713 billion SHIB, worth approximately $10 million.