Shiba Inu Whale Who Made $800K with $4K Misses Out on $10M Gain
A Shiba Inu (SHIB) whale who secured $800,000 with an initial $4,000 investment missed out on clinching a $10 million return due to hasty selloffs.
Shiba Inu stands out as one of the crypto assets with a rich history of turning peanuts to fortunes. The cryptocurrency’s meteoric surge during the 2021 bull run represented the largest price spike for any mainstream asset in crypto history.
Research from CoinGecko confirmed that Shiba Inu successfully transformed $12 to $1 million from 2020 to 2021. Multiple early investors rode on this rally to retirement, but some, while they entered the market rally, missed out on more substantial gains due to hasty selloffs.
Investor Misses out on $10M:-
Blockchain data reveals the case of a particular market participant in this category, who procured billions of Shiba Inu with a mere $4,000 when the asset still traded around the $0.00000003 price level.
This investor leveraged Uniswap V2 to swap 3 Ethereum (ETH) worth nearly $4,000 for 122.92 billion SHIB on Jan. 31, 2021. At the time, Shiba Inu changed hands at $0.0000000325, allowing the market participant to amass more tokens for a discounted price.
However, as Shiba Inu began recording its price growth, this investor started selling off his holdings for meager profits. The first sale came up in April 2021, three months after his purchase. In this sale, the investor dumped 31.889 billion SHIB for 2 ETH worth $4,600 at the time.
As Shiba Inu rallied to the $0.0000010 price territory, the market participant saw an opportunity to dump the remaining tokens he had, selling off 69.8 billion SHIB for 212 ETH on May 8, 2021. These ETH tokens were valued at $730K against the rates at the time. The last sale brought the investor’s total profit to $800K.
Similar Cases with Shiba Inu:-
In addition, at the current Shiba Inu Price of $0.00002688, the tokens are valued at $3.3 billion, representing a much higher return than the $800K.
