An anonymous crypto investor coined about $8,000 worth of meme coins about 400 days ago. from Shiba Inu (SHIB) he bought.
What was the return on this investment? The lucky trader’s SHIB is currently valued at over $4.45 billion!
Business media firm Morning Brew reported earlier this week about the jaw-dropping trade, following the SHIB’s all-time high. At the time of the news, the investor’s Shiba Inu stock was worth $5.7 billion, as SHIB had reached its ATH.
“This wallet purchased approximately $8,000 worth of SHIB last August.
[Bu miktar] It’s now worth $5.7 billion.
From $8,000 to $5.7 billion in about 400 days.
In fact, we may be looking at the largest retail trade of all time.”
This wallet bought roughly $8,000 of $SHIB last August.
It’s now worth $5.7 billion.
From $8,000 to $5.7 billion in roughly 400 days.
We may actually be looking at the greatest individual trade of all time. pic.twitter.com/LtdgQ83bKP
— Morning Brew ☕️ (@MorningBrew) October 27, 2021
SHIB is trading at $0.00007297 at the time of writing, down 16 percent from Wednesday’s all-time high, according to data from CoinGecko. The Ethereum-based meme coin still has a huge increase of 80364512 percent compared to last year.
The Shiba Inu generally seem to be under the control of whales; According to blockchain analytics firm IntoTheBlock, 36 addresses hold 80 percent of SHIB’s circulating supply.
People were amazed by the recent #SHIBA rally and the address that holds >$5.7b.
Excluding the burning address and exchanges, looks like there are some other big winners as well.https://t.co/gj08RM6vVM pic.twitter.com/cpOhlaufQ1
— IntoTheBlock (@intotheblock) October 27, 2021
Clarification on this.
The 41% address is used for burning.
— IntoTheBlock (@intotheblock) October 27, 2021
SHIB garnered huge support from the community last month, with Coinbase listing the memecoin on all platforms. Another rally for the token sparked earlier this month when Tesla CEO Elon Musk tweeted a photo of the Shiba Inu puppy.
Musk announced earlier this week that he does not actually own any SHIB, but this statement failed to slow the rise of the asset. Despite all these developments, the Shiba Inu soared to an all-time high, beating its more popular rival Dogecoin (DOGE) in the crypto market cap rankings.
Although the rankings between the two rival meme coins change frequently, SHIB is currently still ranked 9th in the cryptocurrencies ranking.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.