An $8,000 Shiba Inu Investment reached $5.7 Billion in 400 Days
Shiba Inu turned 2 today as the token was launched on August 1, 2020. In two years of its inception, SHIB garnered widespread attention and got itself listed on top crypto exchanges worldwide. Read here to know how many crypto trading platforms have listed SHIB in 2 years. Also, only a handful of investors knew about SHIB during its inception and those who invested on day 1 turned into millionaires.
In what can be called the greatest trade of all time, a wallet that invested $8,000 in Shiba Inu in August 2020, saw its profits turn to $5.7 billion in October 2021. The wallet saw profits of 7,000,000% in just 14 months post-investment. In October 2021 alone, SHIB had spiked 1,000% and also reached its all-time high of $0.000086158837.
All it took was 400 days for the wallet’s $8,000 investment to turn into a whopping $5.7 billion.
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Morning Brew was the first to report on the wallet that turned from $8K to $5.7 billion. “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.”
However, in November 2021, the wallet began moving SHIB into different wallets. The mentioned wallet did not ‘burn’ any amount of SHIB tokens in the process while transferring it to various wallets. The wallet made way with billions, and the investor now lives to tell stories to his/her children or grandchildren about the ‘greatest trade of all time’.
So, the question that arises these days regarding Shiba Inu is will your $1,000 investments into SHIB in late 2021 or early 2022 turn into millions or billions of dollars? The chances for that to happen repeat are slim and it’s unlikely it’ll spike yet another 7,000,000% in 2 years.
The boat of delivering life-changing gains has sailed and might take years to even reach $0.01. There are way too many SHIB tokens in circulation that’s making it impossible to deliver phenomenal gains yet again.
Unless a massive ‘burn’ process occurs, SHIB might not make investors millionaires again. At press time, Shiba Inu was trading at $0.000011983490 and is down 0.1% in the 24-hour day trade.
What is Shiba Inu Crypto?
Shiba Inu (SHIB) is a token that aspires to be an Ethereum-based alternative to Dogecoin (DOGE), the popular memecoin. Unlike Bitcoin, which is designed to be scarce, SHIB is intentionally abundant — with an initial total supply of one quadrillion. The Shiba Inu Token ecosystem supports projects such as an NFT art incubator and the development of a decentralized exchange called Shibaswap.
How SHIB works?
Because SHIB is issued as an Ethereum token, it’s compatible with the vast Ethereum ecosystem. Advantages include compatibility with Ethereum wallets like Coinbase Wallet or Metamask, availability on decentralized exchanges (or DEXs) like UniSwap, the potential for SHIB to be incorporated into ETH-based DeFi applications like lending and savings products and NFT marketplaces.
Also, Keep in mind
SHIB, unlike DOGE, is compatible with the Ethereum ecosystem — which has allowed the community to create crypto apps like ShibaSwap, a DEX that allows users to trade and stake tokens without an intermediary. In the future, the Shiba community plans to release an NFT platform and DAO-based governance system for the Shiba ecosystem (called “DoggyDAO”).
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