SHIB made a guy worth $1.55 billion with a total investment of $3,400 last August

A guy bought $3,400 worth of SHIB last August and now it is worth $1.55 billion

SHIBA coin is Guinness worth and probably one of the best profits from cryptos that happened last August when a SHIB hodler who spent $3,400 on the meme coin is now a crypto billionaire from that purchase alone. The asset gained 94,278,239.8% over the past year.

It started as a sense and feeling in the gut to purchase $3,400 worth of Shiba Inu last August and has turned the value of the coins drastically growing to a whopping $1.55 billion on Thursday.

The anonymous guy has bought this coiin 44 times since August 2020 in total. During this period, the largest purchase at once was exactly $3,200. With the total possession of 70,200,003,107,594 SHIB now it is worth $5.63 billion.

shiba

The pseudonym user Untraceable, after the wallet address was shared on Twitter, was enquiring whether the SHIB market was liquid enough to “absorb $5.7b if this wallet sells?”

On nine occasions in August 2020, according to Etherscan, the anonymous hodler bought the dog-themed token, spending a total of $3,400 worth of Wrapped Ethereum (wETH) that month.

From the August purchases alone, the hodler has become a crypto billionaire as the price of the coin has since gained more than 94,278,239.8%% over the past year to sit at $0.00006000 at the time of writing.

According to data from CoinBase, the total market capitalization of SHIB is now worth $ 31.7 billion.

SHIB currently ranks ninth, while DOGE is reassuring its 11th position with a market cap of $38.85 billion at the time of writing.

Cryptogoldie team has detected three reasons behind the skyrocketing momentum of SHIB, pointing at:

  • listings on multiple crypto exchanges resulting in an increase of user access;
  • the launch of “Shiboshi’s” the Shiba Inu’s own nonfungible token project
  • open interest on multiple exchanges, including OKEx, FTX, and Huobi as a result of the surge in futures

DOGE’s appreciation fails to match up in comparison to SHIB which has seen a blasting increase, where the elder meme coin gained a mere 18.5% over the last period to sit at $0.3.

If you want to discover more you can read our in-depth Dogecoin Review

 

 

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