Demonstrating extraordinary patience, a cryptocurrency trader has turned a modest $2,700 investment into $1.2 million by holding Shiba Inu (SHIB) tokens for more than three years.
The investor initially purchased approximately 48.1 billion SHIBs on January 31, 2021. The purchase was made on the decentralized exchange Uniswap and cost the investor 2 Wrapped ETH (WETH), equivalent to about $2,700 at the time.
After three and a half years of inactivity, the investor sold his SHIB holdings this morning when the token price rose to $0.000026. The sale was worth $1.24 million, representing a 47,592% increase over the initial investment. This represents a gain of 419 times the original investment.
Shiba Inu was launched in late 2020 as a Dogecoin (DOGE) competitor. The memecoin, which did not perform as expected in the first place, performed unbelievably well in the 2021 bull and especially in late 2021. At the time of writing, SHIB is trading 70% lower than its all-time price record high set in October 2021.
*Not investment advice.
