A Shiba Inu trader has made headlines by turning a $2,625 investment into a whopping $1.1 million. Here’s how they did it:
Early Investment and Long-Term Hold
On February 1, 2021, the trader bought 48.09 billion Shiba Inu tokens for 2 ETH ($2,625). They held onto the tokens for over three and a half years before selling them recently for 287.7 ETH ($1.1 million). This represents a staggering 419x return on investment.
Shiba Inu’s Bull Run
The trader’s investment coincided with Shiba Inu’s unprecedented rally in 2021, when it surged by 46,000,000%. The meme coin hit an all-time high of $0.00008845 on October 28, 2021.
Missed Profits and Current Market
While the trader made a significant profit, they could have earned even more if they had sold at Shiba Inu’s peak. The coin is currently down over 70% from its ATH.
Meme Coins: Changing Lives
Meme coins have become a lucrative investment for some, with individuals becoming millionaires and even billionaires thanks to Dogecoin and Shiba Inu’s meteoric rises in 2021.
Future of Meme Coins
Meme coins are expected to continue making waves in the current bull run. They have gained wider adoption, leading to the potential for significant gains for traders.
