- Early Shiba Inu (SHIB) Investor Nets $1.1M After 3.5 Years of Dormancy
- Dormant SHIB Wallet Reactivated for Massive 419x Profit
In a remarkable turn of events, an early Shiba Inu (SHIB) investor has made headlines by earning a staggering $1.1 million after a period of 3.5 years of dormancy. The news, first reported by popular market insight provider Lookonchain, has created a buzz within the cryptocurrency community, shedding light on the potential of early investments in emerging digital assets.
On February 1, 2021, an anonymous investor acquired 48.09 billion SHIB tokens by swapping 2 Ethereum (ETH), then valued at $2,625. This strategic purchase was made barely five months after Shiba Inu made its debut in the crypto market. The investor’s wallet then remained inactive for over three years, until it was reactivated yesterday at 03:20 PM (UTC).
In a recent transaction, the investor exchanged all 48.09 billion SHIB tokens for 278.7 ETH, valued at $1.1 million. This represents an astounding profit margin of 419 times the initial investment. The transaction, executed through the decentralized exchange Uniswap, was confirmed by data from Etherscan. Currently, the wallet holds 284.29 ETH, with no remaining SHIB tokens.
This development has stirred reactions within the Shiba Inu community, prompting discussions on the timing of the investor’s decision to sell. Notably, if the investor had liquidated their SHIB holdings at the asset’s all-time high (ATH) of $0.00008845 on October 28, 2021, they would have realized a return of $4.2 million. At this year’s peak of $0.000045, the tokens would have yielded $2.16 million. Despite missing these opportunities, the $1.1 million profit from an initial $2,625 investment is still a remarkable achievement.
Shiba Inu has a history of rewarding early investors. Another example includes an anonymous investor who turned a $30,000 investment into $450,000. Similarly, an early SHIB adopter saw a return of $9.6 million after investing an undisclosed amount during the token’s early days in 2021.
As of press time, SHIB is trading at $0.00002488, marking a 2.1% increase over the past 24 hours. Although the token is currently down 71.98% from its all-time high, market analysts remain optimistic. Many within the Shiba Inu community predict that SHIB could surpass its previous ATH in the current market cycle, with some speculating a potential price of $0.0001.
The story of this early Shiba Inu investor underscores the unpredictable nature of the cryptocurrency market and highlights the substantial returns that can be achieved with strategic investments. It serves as a testament to the potential rewards and risks associated with early participation in the volatile world of digital assets.