Lookonchain, a prominent crypto surveillance platform, has identified a shrewd Shiba Inu investor. This investor turned a mere $4,000 investment into a life-changing $127 million fortune.
Lookonchain’s tweet highlighted a savvy Shiba Inu (SHIB) investor who recently cashed out after holding the asset for nearly four years. The blockchain data reveals the investor’s journey began in August 2020, just as SHIB launched. He was an early adopter, acquiring 15.27 trillion SHIB tokens for roughly $3,793 (10 Ethereum tokens).
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A $SHIB SmartMoney deposited 200B $SHIB($6.5M) to #Gemini and #Cryptocom to take profits.
This SmartMoney spent only 10 $ETH($3,793) to buy 15.27T $SHIB($496M currently) in 2020.
He currently holds 2.6T $SHIB($84.4M) and the total profit is ~$127M!https://t.co/BWxcnWuwFR pic.twitter.com/0n0J3M20aV
— Lookonchain (@lookonchain) March 12, 2024
Capitalizing on SHIB’s price surge in late 2021, the investor strategically sold a significant portion of his holdings, exceeding 10 trillion SHIB tokens, through the decentralized exchange Uniswap.
Even after SHIB peaked at $0.00008845 in October 2021, the selling continued. By then, major centralized exchanges like Binance, Kraken, and Crypto.com had listed SHIB.
The investor began repurchasing SHIB piecemeal on these exchanges as the 2021 bull run waned and SHIB’s price dipped. This accumulation phase reportedly ended in November 2022, with Lookonchain estimating the investor bought back 535 billion SHIB tokens.
The investor resumed selling his SHIB holdings in late 2022 and continued throughout 2024. Recent transactions include transferring 200 billion SHIB to Gemini and Crypto.com.
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Lookonchain estimates this savvy investor has profited a staggering $127 million from his initial $3,793 investment. As of now, Etherscan data shows he still holds 2.6 trillion SHIB, valued at over $85.67 million.
Hypothetically, if the investor held onto his entire 15.27 trillion SHIB without selling, his portfolio would be worth a mind-blowing $504 million at today’s SHIB price. At SHIB’s all-time high, the portfolio’s value would have surpassed a staggering $1.35 billion.
This story is a real-life example of the potential rewards and risks associated with cryptocurrency investments. It highlights the importance of strategic decision-making and capitalizing on market movements. However, it is crucial to remember that the crypto market is volatile, and such immense returns are not guaranteed.