Shiba Inu investor turns $2,700 into $1.1 million.
Shiba Inu’s K9 Finance DAO to list on LBank.
Investor’s windfall sparks Pepe speculation.
A Shiba Inu (SHIB) holder, invested in the second-largest meme coin, has realized substantial gains over the past 3.5 years. According to on-chain data, a modest $2,700 investment grew to $1.1 million, a 419-fold increase.
The remarkable feat was acknowledged by the official Shiba Inu X account, stating that the monumental gain “showcases the power of patience, belief, and the potential of Shiba Inu.” Lookonchain data reveals that the investor purchased 48.05 billion SHIB tokens on February 1, 2021, for two ETH, then valued at $2,625.
The tokens were sold approximately 12 hours ago for 278.7 ETH, worth over $1.1 million. The impressive return surprised the digital asset community, with speculation that the former SHIB holder may now invest in Pepe (PEPE), another prominent meme token that recently surpassed Uniswap (UNI) in market capitalization and currently ranks as the 19th largest cryptocurrency.
Meanwhile, the Shiba Inu X account also announced that K9 Finance DAO (KANINE), the official liquid staking solution for Shib and the Shibarium blockchain, will be listed on LBank at 12:00 UTC on May 28, 2024.
Launched on March 7, KANINE, a stake-to-earn token, allows users to generate revenue from the liquid staking product and the DAO. The listing on LBank is expected to enhance value for the Shiba Inu community, according to an X post by the official SHIB account.
The post Shiba Inu Investor Reaps $1.1 Million Windfall, Fueling Meme Coin Frenzy appeared first on Coin Edition.
