According to data found online, a mysterious trader skyrocketed a modest investment in Shiba Inu memecoin into an astounding million dollars.
On the decentralized exchange Uniswap, an investor paid around $2,700 for two “wrapped ether” (WETH) on January 31, 2021, for a total of about 48.1 billion SHIB.
The user sold their SHIB holdings yesterday morning at a price of $0.000026 after holding the coins for approximately 3.5 years.
His original investment was 47,592% more than what he made from the sale, which was $1.24 million.
Several early investors became millionaires when the price of Shiba Inu, a memecoin, skyrocketed. The meme coin is currently valued at $15.2 billion, placing it thirteenth among all cryptocurrencies, despite the fact that it lacks any real advantages.
Token sales for the forthcoming TREAT digital asset, developed by the Shiba Inu team and set to run on the new Layer 3 network for both utility and governance purposes, raised $12 million on April 22. The Shiba Inu token ecosystem will soon have its newest asset, TREAT.
Notably, Republican presidential candidate Donald Trump is now accepting digital assets, and SHIB is one of them.