In an extraordinary display of patience, one cryptocurrency trader turned a modest $2,700 investment into $1.2 million by holding Shiba Inu (SHIB) tokens for more than three years.
The investor initially purchased approximately 48.1 billion SHIB on January 31, 2021. The purchase was made on the decentralized exchange Uniswap and cost the investor 2 Wrapped ETH (WETH), which was equivalent to approximately $2,700 at the time.
After remaining dormant for three and a half years, the investor sold his SHIB holdings this morning when the token price rose to $0.000026. The sale was valued at $1.24 million, representing a 47,592% increase over the initial investment. This means a gain of 419 times the original investment.
Shiba Inu was launched as a Dogecoin (DOGE) competitor in late 2020. Memecoin, which did not give the expected performance in the first place, showed an incredible performance in the bull of 2021 and especially in the late 2021. At the time of writing, SHIB is trading at a level 70% lower than the all-time high price record it broke in October 2021.
*This is not investment advice.
Inspiring!