Shiba Inu Whale Turns $8,000 to $5 Billion in 400 Days
A Shiba Inu whale that previously turned $8,000 to $5 billion has decided to cash out on some of his profit
The billionaire sold $2.9 worth of the meme cryptocurrency, leaving his wallet balance at $2 billion
The wallet holder has diversified into other digital assets including USDC, Uniswap (UNI), and Dinger Token (DINGER)
You’d have been forgiven for not paying much attention to Shiba Inu when it launched in August 2020.
Although it was termed the “dogecoin killer”, nobody really expected it to come close to touching the meme coin.
One investor however took a big risk on the dog-themed cryptocurrency and he is now a billionaire.
A Shiba Inu whale who made an investment of $8,000 in the meme coin, has gotten a return of $5.7 billion.
In 400 days of the investment, the bet yielded a 38,461,400% increase to the anonymous wallet, when Shiba Inu reached its all-time high.
The Shibaarmy sent the wallet the value of the token above $0.00008, thus making the Shib Whale a billionaire.
Although the anonymous Shib holder did not cash out at that exact moment, he has snow sold $2.9 billion worth of the dog-themed cryptocurrency.
The huge sale has promoted the price of the meme coin to come crashing down. In the last 7 days, Shib has lost about 30% of its value.
At the time of this report, the coin is trading at 0.00004785, according to CoinMarketCap, with a market capitalization of $26b.