A recent strategic move by a significant whale address has caught the attention of the cryptocurrency community. The whale has diversified its holdings, shifting its portfolio between the memecoin Shiba Inu (SHIB) and the Artificial SuperIntelligence Alliance (FET) token.

Data reveals that the whale has reduced its stake in Shiba Inu, reallocating a substantial portion of its assets to FET, an AI-focused token. According to Spot on Chain, the whale executed a notable transaction, exchanging 255.62 billion SHIB tokens, valued at approximately $3.5 million, for 3.114 million FET tokens. This whale was an early investor in SHIB and had previously realized a hefty profit of $145 million from trading SHIB between February 2021 and June 2022.

However, due to the recent downturn in SHIB’s value, the whale is now facing an unrealized loss of $11.51 million, reflecting a 45.9% drop from the second trade initiated since June 2024. Despite this, the whale still retains a significant SHIB holding—713 billion tokens, currently valued at around $10 million.

Contrasting Price Trends Between SHIB and FET

An analysis of the price trends for Shiba Inu (SHIB) and FET on a daily timeframe reveals contrasting patterns. SHIB has been struggling under a persistent bearish trend in recent weeks. The price chart shows that its short-moving average (yellow line) has consistently acted as a strong resistance level. At the time of writing, SHIB was down by over 1%, trading around $0.000013, with its Relative Strength Index (RSI) below the neutral line, confirming the bearish trend.

Conversely, FET has demonstrated a more bullish overall trend despite some recent declines. The price chart indicates that the short-moving average has served as a support level. As of the latest data, FET was trading at around $1.1, a drop of over 3%, but its RSI remains above the neutral line, supporting the bullish outlook.

Growing Interest in AI Tokens Over Memecoins

According to CoinMarketCap, while memecoins currently boast a larger market capitalization—nearly $42 billion compared to $27.7 billion for AI tokens—the trend appears to be shifting. Recent data indicates a decline in the market capitalization of memecoins, while AI tokens like FET have experienced significant growth.

This emerging trend underscores the growing popularity of AI tokens, contrasting with the challenges faced by memecoins such as Shiba Inu. The whale’s decision to swap a portion of its SHIB holdings for FET seems to be a calculated move aimed at capitalizing on FET’s upward momentum while mitigating potential losses from SHIB.