According to Spotonchain, an early buyer of SHIB is exchanging its loss-making SHIB positions for rising FET tokens. In the past 10 hours, the whale has exchanged 2556.2 billion SHIB (worth $3.50 million) for 3.114 million FETs. Notably, the whale made a profit of $145 million (up to 52x) on the first trade of SHIB between February 2021 and June 2022. However, the address's recent SHIB token trade has not been good, with his second trade having an unrealized loss of $11.51 million (-45.9%) since June 2024. The operation performed well when the FET price increased by 14%. Currently, the whale still holds 713 billion SHIB (worth around $10 million).