Gushiken Yona
In a quintessential rags-to-riches tale for the digital era, an investor’s initial $4,000 foray into Shiba Inu (SHIB) has remarkably morphed into a $127 million windfall.
Blockchain analysis tool LookonChain recently highlighted one Shiba Inu investor whose actions served as a testament to the potential within the crypto markets, and particular SHIB. The token has risen more than 236% in the last 30 days, according to Coinmarketcap data.
The unnamed investor’s journey began at SHIB’s inception in August 2020. The investor swapped 10 Ethereum tokens, then worth approximately $3,793, for an astonishing 15.27 trillion SHIB.
When the crypto asset gained traction in 2021, the investor executed a series of strategic sales, where they divested over 10 trillion SHIB via the decentralized platform Uniswap—a strategy that continued even as SHIB recorded its all-time high in October 2021. At around the same time, Shiba Inu achieved significant milestones including getting listed by major crypto exchange platforms such as Kraken, Binance and Crypto.com.
In an act reflecting the “buy-the-dip” approach, the investor started a calculated re-accumulation of SHIB as soon as the 2021 bull run waned and the crypto asset’s value started to fall. The investor continued to do this until November 2022.
According to Lookonchain, the investor accumulated an additional 535 billion SHIB in his portfolio in this period, after which they started selling some in the late part of 2022. The investor continued doing this until 2024 with no other additional SHIB acquisitions.
One of the investor’s noteworthy transactions was the transfer of 200 billion SHIB to crypto exchange platforms Gemini and Crypto.com. The investor’s strategy yielded them a whopping $127 million profit from their initial investment of just over $3,700.
Interestingly, the Shiba Inu holder has not sold all of their SHIB holdings as data from Etherscan showed that they still hold about 2.6 trillion SHIB, which, based on current value, is worth around $85.67 million.
While this story is fascinating and inspiring, this is not the first millionaire that Shiba Inu has produced over the years.
A similar extraordinary story is that of a middle-aged truck driver who invested $650 in Shiba Inu in 2020 which turned into $1.7 million 10 months later when SHIB’s value skyrocketed in May 2021.
During the challenging times of the COVID-19 pandemic in 2020, two New York brothers found themselves jobless and searching for hope amid the chaos and gloom. Seizing an opportunity in the face of adversity, they pooled their resources to invest $7,900 in Shiba Inu, a move driven by optimism rather than certainty. But this leap of faith paid off spectacularly as their investment skyrocketed 120,000% in just six months. By May 2021, their SHIB stake had transformed into a staggering $9 million, turning their pandemic-induced misfortune into a story of incredible financial success.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
