Shiba Inu Investor Scores Trade for the Ages
Cryptocurrency investors have one thing on their mind: How high can the Shiba Inu price go? It is a question posed by crypto YouTuber Matt Wallace, a Dogecoin bull who has also been buying SHIB out of respect for the energy it has brought to the meme-coin community.
How high can Shiba Inu Coin go?
— Matt Wallace (@MattWallace888) October 29, 2021
While SHIB fans are shooting for the moon, for one fortuitous Shiba Inu trader, the sky is already the limit. The owner of a Shiba Inu wallet who invested approximately $8,000 in the meme coin a little over a year ago has seen the value of their holdings skyrocket to$5.7 billion in what is going down in the unofficial history books as “the greatest individual trade of all time.” Shiba Inu continues to trade for fractions of a penny.
This wallet bought roughly $8,000 of $SHIB last August.
It's now worth $5.7 billion.
From $8,000 to $5.7 billion in roughly 400 days.
We may actually be looking at the greatest individual trade of all time. pic.twitter.com/LtdgQ83bKP
— Morning Brew ☕️ (@MorningBrew) October 27, 2021
It all started with the purchase of about 70 trillion SHIB tokens in August 2020, which is when the meme coin first came on the scene. Back then, Shiba Inu was trading for $0.000000000189. This Shiba bull started buying on day one and now holds 13%-plus of SHIB’s total coins in circulation, which is inching closer toward 550 trillion. The investor’s returns have clocked in at the approximately 7 million percent mark, Business Insider points out.
This trader has not touched the wallet nearly 200 days, and their ability to access the funds is said to be uncertain.
Shiba Inu investors are fixated on how the Shiba Inu price will go. Many investors are targeting the one-cent level. The Shib Army, which is the name assigned to the Shiba Inu community, is urging one another to hold on for the long haul.
Shiba Inu has shocked even the biggest crypto bulls in its run up in the past week in which it has muscled Dogecoin out of the No. 9 spot on CoinMarketCap. SHIB investors have watched in awe as the price of their favorite cryptocurrency has soared from $0.00002749 to $0.00007515 in seven days, an increase of about 170% based on the latest price. Shiba Inu’s market cap now hovers at over $41 billion. By way of comparison, social media giant Twitter’s market cap is slightly over $42 billion.
Shiba Inu Bandwagon
Individual investors aren’t the only ones who want to jump on the Shiba Inu bandwagon before it’s too late. Movie Chain AMC Entertainment also has the meme coin in its sights. AMC CEO Adam Aron is polling his followers to gauge whether the company should accept online payments in Shiba Inu. Crypto-friendly AMC has already committed to accepting bitcoin, Ethereum, Litecoin and Dogecoin so far.
More than three-quarters of poll participants are in favor of AMC accepting Shiba Inu for payments. It could be only a matter of time before other companies come out of the woodwork, especially if the bulls manage to keep control of SHIB.