The Lucky 1-Year SHIB Billionaire


One SHIB holder who spent $3,400 on the Memecoin last August became a cryptocurrency billionaire from that purchase alone, with assets up 94,278,239.8% over the past year.   

What is SHIB?

According to the SHIB INU website, SHIB is a “DOGECOIN KILLER” and is listed on its own SHIB Swap, a decentralized exchange.    In August 2020, the SHIB INU coin was created anonymously under the alias “Ryoshi”. Memecoins rapidly increased in value and speed as the investor community, coupled with headlines and tweets from people such as Elon Musk and Vitalik Buterin, was attracted to the cute charm of the coin.    On September 17, 2021, Coinbase, the largest US-based cryptocurrency exchange, listed SHIB INU on its platform. The news raised SHIB INU prices by more than 40% over the next two days, and dog-themed meme tokens were once again in the limelight.    The SHIB INU website invites dog-inspired artists from around the world to promote the “SHIB INU Movement” to bring the SHIB INU community to the NFT market.    SHIB INU has also launched a campaign with Amazon Smile to raise funds with the SHIB INU Rescue Association to rescue real, living SHIB INU dogs.   

$3,400 worth of SHIB last August

An unknown person has overall purchased SHIB 44 times since August 2020 – that’s worth $3,200. However, SHIB’s total inventory is $70,200,003,107,594 SHIB out of $5.63 billion. The inventory securely stores users’ payment information and passwords for numerous payment methods and websites, which we call digital wallets.    Wallets are an electronic device, online service, or software program that allows one party to make electronic transactions with another party bartering digital currency units for goods and services. Coming back to SHIB wallets, there was a wallet address sponsored on that revealed its worth. After the address of the wallet was shared on Twitter, user “Untraceable” wondered if the SHIB market was liquid enough to “absorb US $ 5.7 billion when selling this wallet.”   According to Ethereum, the anonymous SHIB Hodler purchased nine dogmatic at $3,400 on the memecoin last August, is now a crypto billionaire from that purchase alone, with the asset gaining 94,278,239.8% over the past year.   The price of SHIB rose by more than 94,278,239.8 % last year and at the time of writing, was trading at $0.00008094, making that lucky Hodler a cryptocurrency billionaire from his August SHIB purchase.    According to data from CoinGecko, SHIB currently has a market capitalization of $40.3 billion. SHIB has overtaken Dogecoin (DOGE) as a result of the significant increase in asset value to 1063% over the last 30 days.   At the time of writing, SHIB is currently in 9th place on the list of the top 10 coins and DOGE is in 11th place, with a market capitalization of $ 31.6 billion.    While SHIB has seen a meteoric rise as of late, DOGE’s appreciation fails to match up in comparison, with the elder memecoin gaining a mere 18.5% over the past 30 days to sit at $0.23.    What do you think is next for SHIB? Let us know in the comments below.  




Disclaimer: The views expressed in The Coin Times are solely those of the authors cited. It does not constitute The Coin Times recommendation to buy, sell, or hold any investment. Before making any financial decisions, it is recommended that you undertake your own research. Use the information supplied at your own risk. For additional information, please see the Disclaimer.

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