A yield of over 100 million%
Stroke of madness or stroke of genius? – In August 2020, a user invested $ 3,400 in a then little-known meme, the Shiba Inu (SHIB). Since that day, his portfolio has grown dramatically, reaching the astronomical sum of $ 5.5 billion to date.
It was the Morning Brew media that revealed the information in a post on Twitter:
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
According to information from Etherscan, during the month of August, this mysterious investor carried out more than 44 transactions to buy SHIB. In total, his portfolio holds exactly 70,200,003 107,594 SHIB, valued at over $ 5 billion at the time of writing. An increase of around 100 million%.
While this individual doesn’t seem ready to break away from his precious Shiba pieces just yet, a question remains. Will the market have the liquidity to absorb such a sale?
👉 Also read – Shiba Inu (SHIB) hits all-time high and becomes 11th most capitalized cryptocurrency
The SHIB jumps 80% in 24 hours and surpasses the DOGE
According to Coingecko data, the Shiba Inu is now one of the ten most capitalized cryptocurrencies on the market. Its market capitalization exceeds $ 38 billion, more than Société Générale or large groups such as Engie, Thalès or Orange.
The current ranking of the Shiba Inu puts it ahead of a countless number of much more serious projects for the cryptocurrency ecosystem. Initially created as a joke, memecoin has been widely relayed on social networks (especially on TikTok) and has become popular to the point of even surpassing its rival, Dogecoin (DOGE).
This story is proof, the craziness of the cryptocurrency market does not seem ready to stop. After the incredible breakthrough of Dogecoin (DOGE) last May, history is repeating itself today with the Shiba Inu. Is this a sign that cryptocurrencies are popularizing, or further proof of the market’s immaturity?
👉 Also read – After a first failure, Coinbase Pro adds the Shiba Inu (SHIB) memecoin
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About the Author: Lilian Aliaga
Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.