We are currently seeing how the market is beginning to recover little by little, precisely with #Bitcoin in the lead reaching $70,000 dollars again and a strengthened Ether wanting to touch $4,000 dollars again. The #memecoins are no exception and when they rise, they do so more quickly and exponentially, generating profits for traders. One of those memecoins is SHIB. How could someone generate big profits with the SHIB memecoin? Let's explore.
SHIB is a #memecoin that is currently in the top 12 by market cap, according to Coinmarketcap. A peculiarity is that it is located in the middle of the most popular memecoins of the moment, which are DOGE and PEPE.
It turns out that a trader was interested in this memecoin and wanted to have it in his portfolio. Thus, he decided to buy it on January 31, 2021, making a Swap at #Uniswap , investing 2 WETH ($2,635 dollars at that time) to buy SHIB.
Once this purchase was made, he had to wait to see how the price behaved and decide whether to sell or continue holding. After 3 and a half years with the SHIB stored in his #billetera , a few hours ago he decided to sell everything he bought, receiving about 277.8 ETH ($1.1 million dollars!!).
I mean, he had to hold on to it for almost 3 and a half years to be able to sell it, hoping that the price would continue to rise or reach its previous all-time high price.
That is being "Diamdons Hands", a term used between traders and the crypto community to refer to those, who regardless of the circumstances or whether the price rises or falls, holds on to the asset and does not sell it until they believe it is the right moment". An example of a good play in memecoins, with a timely entry.
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