Posted on 10/28/2021 10:20:34 AM PDT by Mr. Mojo
A Shiba Inu hodler who spent $8,000 on the meme coin in August 2020, is now a crypto billionaire, as the meme coin has gained 94,278,239.8% over the past year.
An address with the foresight to purchase $8,000 worth of Shiba Inu (SHIB) last August has seen the value of the coins grow to a whopping $5.7 billion at Shiba Inu’s all-time high of $0.00008845.
Shiba Inu in the early hours of today, flipped dogecoin and Polkadot’s DOT token in market capitalization to claim the #8 most valuable cryptocurrency by market capitalization. It however currently stands at #10 as the token price has retraced.
After the wallet address was shared on Twitter, user “Untraceable” questioned whether the SHIB market was liquid enough to “absorb $5.7 billion if this wallet sells?”
According to data from Coinmarketcap, the total market capitalization of Shiba Inu is now worth $38.9 billion. The asset’s mammoth 1063% gain in value over the past 30 days.
The reason behind the bullish momentum of Shiba Inu, is as a result of an increase of user access via listings on multiple crypto exchanges. This and the launch of the Shiba Inu’s own NFT project dubbed “Shiboshi’s,” have contributed to the bullish stance of the price of the meme coin.
The wallet address can be viewed on Etherscan with address: 0x1406899696aDb2fA7a95eA68E80D4f9C82FCDeDd.
Although there is a rally in the meme coin industry, investors are advised to invest with extreme caution as these coins are very volatile and could result in the total loss of an investor’s portfolio.
The token hit an all-time high of $0.00008845, just 5 hours ago but its however down 25% from that price, as it currently trades $0.00006412 as of the time of this writing.
Word salad....
“After the wallet address was shared on Twitter, user “Untraceable” questioned whether the SHIB market was liquid enough to “absorb $5.7 billion if this wallet sells?”
If he TRIES it sell, it won’t sell at the current price.
He better sell quickly or the Democrats will tax his fictional gains.
cryptos are a ponzi scam
This sounds like HYPERIFLATION of the crypto money supply.
SELL
I think I’ll grow some tulips.
SHIB is the epitome of shit coin...does nothing but tarnish the crypto space. 82% of all coins are held by 100 wallets. Classic pump-and-dump fleecing for all the idiots who buy this garbage.
And it's useless. You CAN'T unload $4.2 billion of SHIB. Maybe $150 million over a few days without tanking it by 70%.
His 1040’s are gonna be interesting.................
It is worth nothing unless he can convert it to gold, silver or platinum.
“He better sell quickly or the Democrats will tax his fictional gains.”
His gains are no more fictional than the gains in your IRA account. The stocks that your IRA is invested into succeed based on the faith and belief of investors to buy into them.
That’s all.
If people have faith in a digital currency then so be it.
But like Beanie Babies the theoretical gains from holding Shiba Inu can evaporate if people lose interest or faith.
In the meantime the Democrats will be angling to get a piece of anyone’s potential wealth and I don’t doubt that they want a piece of your Beanie Babies too.
Oh BS. Doge has more coin consolidated in fewer accounts. What you fail to understand is that half of that 82% is in a black hole wallet.
I'm sure he has or will sell a measly 100 million or so and no one would even know it.
I'm amazed at the silly people on this thread mocking this guy. He can sell just one or two percent and have more cash than probably every person on FR combined. In fact I'm sure he has already has done that. Not a bad investment in my opinion.
It’s nothing but Math ,LOL
—”It’s nothing but Math ,LOL”
Yes, a base I number system.
He should sell $1M at a time and pause each time to review the market absorption. If this is a case of bigger fool, there are a lot of fools in line. I have a Coinbase acct and bought some SHIB when it was a new listing, then added on drops. For me, it is a purely psychological play. At the time, you could be a SHIB millionaire for $7. Meanwhile, $7 would have got you 0.00015 Bitcoin. Yes, BTC is a safer bet, but SHIB is more satisfying to own. Either way, it needs to be money you can afford to lose!
“I’m amazed at the silly people on this thread mocking this guy. “
Are you mocking me?
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