Anonymous Trader Turned Small Investment into $1.2 Million with Shiba Inu
An anonymous trader has made a fantastic transformation of a small investment in the meme coin Shiba Inu into a sum of over $1.2 million. At the beginning of 2021, on January 31, the investor purchased about 48.1 billion SHIB tokens for two «wrapped ether» (WETH) on the decentralized exchange Uniswap. The cost of this investment then was around $2700.
After acquiring the tokens, the trader held SHIB in their portfolio for almost three and a half years. Yesterday morning, he sold all of his coins when the token price reached $0.000026. The sale brought him an impressive amount of $1.24 million, which is an increase of 47,592% compared to the initial investment.
Shiba Inu, known as a meme coin, has provided early investors with significant profits due to its sharp price increase. Despite the lack of fundamental advantages, SHIB currently ranks thirteenth in terms of market capitalization among cryptocurrencies with a value of $15.2 billion.
On April 22, the Shiba Inu team raised $12 million through the sale of tokens for a new digital asset called TREAT, which will be used in the future as a utility and governance tool on the layer 3 network. TREAT will be the latest asset in the Shiba Inu ecosystem.
Interestingly, SHIB is now also included in the list of digital assets accepted by Republican presidential candidate Donald Trump, underscoring the growing popularity and recognition of meme coins in the cryptocurrency market.
