SHIB mania continues as the meme-coin has seen an almost 10X appreciation in the last 30 days. It’s anyone’s guess as to why it has pumped to an extreme level like that, but it seems that it has something to do with the popularity of the former king of the meme coins – the DOGE itself! The token now has a $40B market cap and is currently ranked 9 on the list – ahead of Dogecoin. And it might have caused a holder to unknowingly execute perhaps the greatest trade of all time?
A wallet 0x1406899696aDb2fA7a95eA68E80D4f9C82FCDeDd appears to have bought a huge supply of the SHIB token, starting from (surprisingly) the date the token likely started trading. The pseudo anonymous investor appears to have turned $8,000 of his money into a whopping $5,700,000,000 or $5.7 billion! That’s a return of proportions likely unimaginable, unless of course you were involved in some pretty shady activities.
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
But, these are paper gains and we can say with high confidence that the investor can’t possibly cash out all these gains, because of the illiquid market and price bleeding like a hemophiliac on blood thinners, should the investor attempt to route the trade through any of the AMMs or the centralized exchanges. So far, he or she appears to be dispersing little little amounts to multiple random wallets. But, how much can be likely cashed out? Still an excellent $43 million in one click of a button and tx approval! A very strong contender for the greatest trade of all time.
Still Billionaire on paper, but the pot is 10 times higher pic.twitter.com/Baab9epctG
About Shiba Inu (SHIB)
Self-declared DOGE killer, Shiba is another meme and community based dog themed token. According to the official description “SHIB is an experiment in decentralized spontaneous community building”. SHIB has a total supply of 1,000,000,000,000,000 (or 1 quadrillion) tokens. The project is named after the breed of hunting dogs in Japan.
You can acquire SHIB tokens from Uniswap, Coinbase, Hotbit, Gate.io, Poloniex, 1inch etc. 50% of the tokens are in a locked liquidity state and remaining 50% was burned to Vitalik Buterin, ensuring no possible team dump. SHIB has seen astronomical appreciation since its launch in Aug 2020.
