Investor Achieves $1,580,000 Profit with Shiba Inu: Discover the Method
Amidst the recent surge in Shiba Inu’s value, a shrewd SHIB investor has successfully gained a profit of over $1,580,000 ($1.58 million) with an initial investment of only $2,521 made in early 2021.
Lookonchain, a well-known blockchain surveillance platform, uncovered this remarkable investment move and shared it in a recent post. According to on-chain data, the investor originally entered the Shiba Inu market with $2,521 in 2021.
The data further reveals that the investor initially exchanged 1.33 Ethereum (ETH) for SHIB on March 24, 2021. Shortly after, on April 16, 2021, they traded 0.16 ETH for additional SHIB. These purchases were made when Shiba Inu’s value had not yet skyrocketed, with the asset being traded for an insignificant $0.000000050588.
At this price point, the investor was able to obtain a total of 49.833 billion Shiba Inu tokens using $2,521 worth of ETH. They transferred 5 billion SHIB to another address and staked 44.833 billion SHIB on ShibaSwap on July 6, 2021, the day the decentralized exchange (DEX) was launched.
Over time, the investor made additional moves with their remaining SHIB. They purchased Shiboshis, the Shiba Inu NFT collection, using 7.4 million SHIB in October 2021. Furthermore, in December 2021, they unstaked 4.3 billion SHIB, leaving 40.54 billion SHIB staked.
Most recently, the investor decided to unstake the remaining 40.54 billion SHIB tokens. After 2.6 years of keeping the assets staked, the tokens were valued at an incredible $1.58 million upon withdrawal, according to Lookonchain.
The investor transferred the 40.54 billion SHIB to Coinbase, which triggered speculation about a potential sale after years of holding onto the assets. Notably, if the investor had withdrawn and sold the 40.54 billion SHIB when Shiba Inu reached its all-time high of $0.00008845 in October 2021, their profit would have been $3.58 million.
However, it is evident that the investor had a long-term holding strategy and confirmed this through recent moves. Even after transferring the 40.54 billion SHIB to Coinbase, the investor moved the tokens back to their wallet five hours later.
Although the investor retains the assets in their portfolio, their value has declined due to a market-wide correction that impacted the price of Shiba Inu. At present, SHIB has experienced a 14.4% decrease in the last 24 hours and is being traded at $0.00003514. Nonetheless, the asset has seen a 221% gain over the past week.