Shiba Inu (SHIB) Token Holder Converts $23000 into Mollars ICO — Adopting Dollar Cost Averaging, Respected Investor Chooses Mollars Over Other Memecoins
A renowned crypto investor, affectionately known as the King Shrimp, has significantly increased their stake in the Mollars token presale. By consistently purchasing Mollars or dollar cost averaging into the presale, this trader has emerged as one of the largest holders of Ethereum blockchain’s upcoming store-of-value token.
The transaction address associated with the buyer’s wallet is publicly available and was last active 11 days ago. The investor has a successful track record in investing in memecoins, evident from their involvement with Shiba Inu (SHIB), Volt Inu (VOLT), and Robo Inu (ROBO). While the Mollars token presale stands out as their most significant investment this year, they are believed to hold a substantial amount of Shiba Inu tokens as well, suggesting their involvement during SHIB’s golden era.
Initially, investments in the Mollars token presale may not have garnered attention from observers monitoring transaction addresses. The largest individual purchase made by the King Shrimp amounted to 1.06 ETH, which may not be the most significant individual buy by an investor. However, with a total of 12 substantial purchases, the cumulative numbers quickly add up.
Altogether, the 12 purchases amounted to 7.974272038 ETH, equivalent to approximately $23080.73 at the time of writing. This investment is estimated to have secured around 57,700 Mollars tokens, with an average price per token of around $0.40 during the ICO’s first and third rounds.
Mollars token is set to be listed on prominent crypto exchanges, including Bitmart and LBank, around June 1st. If the ICO reaches its maximum hard cap, the token’s listing price will be $0.62 per token on June 2nd.
Considering this listing day valuation, the King Shrimp’s investment would potentially grow from $23,080.70 to $35,775.09 if the hard cap is met. Moreover, token predictions indicate that the value of the Mollars token could reach approximately $15 by the end of the year, with even higher growth possible if its popularity continues to surge after listing.
With a potential profit of $12,695 on the horizon, the King Shrimp’s decision appears to be a wise one. The Mollars ICO has a hard cap of 4 million tokens, while the total supply of the cryptocurrency is set at 10 million tokens. Only 40% of the total token supply was allocated for the presale, primarily to fund the project’s development and enhance its branding value.
The fact that the King Shrimp is shifting a substantial portion of their funds from Shiba Inu to Mollars signifies their belief in the latter’s far superior growth prospects compared to SHIB in 2024. The Mollars token presale has already raised $1.31 million in funding, and this $23,000 investment positions the King Shrimp as the largest holder of this promising store-of-value token before its official listing.
In terms of performance, Shiba Inu token has yielded investors a solid gain of 168% this year. However, many investors are still underwater, experiencing losses in 2024. In contrast, the price appreciation of SHIB over the past few months has been around 6.6%, which falls short of the expected gains upon Mollars’ listing. This trend suggests that astute traders foresee Mollars outperforming SHIB, positioning it as a formidable challenger to Bitcoin in terms of being a store of value.