A lucky investor turned a $17 investment in Shiba Inu (SHIB) into an incredible $1.5 million as the cryptocurrency’s value skyrocketed over the course of a year.
It’s worth noting that Shiba Inu, a cryptocurrency based on the cute dog breed, has made countless millionaires among its early investors and long-term holders.
From $17 in ETH to $1.5 Million Worth of SHIB
Data from Ethereum Explorer. Etherscan, reveals that an anonymous investor who took his chance on SHIB in 2020 has so far profited more than $1.5 million from his initial $17 wager.
A closer examination of Etherscan reveals that this unknown investor was one of the early adopters of Shiba Inu (SHIB). Surprisingly, he purchased SHIB on October 27, 2020, just a few months after the token’s initial public offering.
Read Also: A Closer Look At Potential Return of $100 Shiba Inu Investment If SHIB Hit $0.001
According to records, the investor used the renowned decentralized exchange Uniswap to exchange 0.0436 ETH for a whopping 202,179,695,624.57 SHIB tokens on that day. At the time of this transaction, 0.0436 ETH was worth $17.53, while SHIB was trading at around $0.000000000085 and had a market cap of less than $10 million.
The price of SHIB rose tremendously as the popularity and acceptance of the crypto project expanded among crypto fans in the following months. The investor decided to cash in once the value of their SHIB assets hit $1.5 million, capitalizing on this remarkable growth.
After profiting, the Shiba Inu investor carefully diversified his crypto portfolio by investing in additional meme tokens such as Papa Elon (PLON), Dogey-Inu (DINU), Star Elon (Starlon), Egg Token, Dobbermann, and many others.
This incredible success story featuring Shiba Inu is not an isolated incident. As we previously revealed, two additional investors became billionaires after investing in SHIB. Rob, a former grocery warehouse manager, was one of them, while the other wished to remain anonymous.
Read Also: If Shiba Inu (SHIB) Reclaims ATH, How Much Would You Make with $100 or $1,000 Investment?
The anonymous investor was able to profit more than $5 billion on their initial investment of $8,000. Similarly, Rob invested $8,000 in SHIB in February 2021 and withdrew $500,000 after only four months as the price of SHIB surged 1,100 times. It’s worth mentioning that The Crypto Basic previously recounted how a Shiba Inu trader turned $30,000 into $450,000 over the course of three years.
Given this streak of spectacular success stories, many investors who missed out on the original Shiba Inu rally are optimistic about a potential price surge. As a result, forecasts suggest that SHIB could rise to $0.001 or possibly $0.01.
The Impact of Shiba Inu (SHIB) Success
The emergence of Shiba Inu and its millionaire-making potential has piqued the interest of investors all over the world. As more individuals learn about the extraordinary gains obtained by early adopters, demand for meme-themed cryptocurrencies such as SHIB grows.
The success stories of turning small investments into life-changing sums of money have instilled optimism and excitement in those considering entering the crypto industry. Although the future remains unpredictable, Shiba Inu’s extraordinary journey demonstrates the power of cryptocurrencies and their ability to generate financial opportunities for anyone willing to take the risk.
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