Since January 1, Dogecoin has grown to a maximum of 15,000%. For comparison, to get the same profitability on bitcoin, you had to buy the cryptocurrency at the end of 2015 for about $ 400. However, even DOGE’s results don’t match what one of his copycats shows.
As noted by The Daily Gwei founder Anthony Sassano, 276 days ago, someone invested 10 ETH in the Shiba Inu (SHIB) token. On August 7, 2020, 1 ETH was trading below $ 400. Today, this position is worth $ 460 million, which corresponds to an increase of 11,500,000% in 9 months.
276 days ago someone put 10 ETH into SHIB and now it’s worth $460 million.
How’s your life going?
– Anthony Sassano Ξ 🦇🔊 (@ sassal0x) May 10, 2021
Analyst Igor Igamberdiev, however, says that this is not the limit. The owner of another wallet invested in SHIB 37.65ETH around the same time and now holds a $ 2.05 billion position.
Not impressed
Another guy put 37.65 ETH and now it’s worth $2.05 billion https://t.co/XIxKr9Fftb pic.twitter.com/TgDSkPWO0T
– Igor Igamberdiev (@FrankResearcher) May 10, 2021
It is difficult to say what these traders were guided by when buying a little-known token at that time. In August 2020, few could have guessed where Bitcoin would be in a few months, not to mention the explosive growth of the unremarkable Dogecoin, and even more so of its many clones. Perhaps, in this way, they distributed part of the profits from investments in the DeFi space in the hope of pulling out the lucky ticket and did not lose.
Anyway, SHIB was added to Binance and FTX today. Users have already criticized them for striving to capitalize on the hype while not paying attention to projects with much stronger fundamental characteristics. Both sites have also launched leveraged SHIB perpetual contracts, thus capitalizing on the SHIB crash that will come sooner or later given the short-lived nature of these hobbies. Nevertheless, as the DOGE example has already shown, the maximum can be several times higher than the current levels, and attempts to catch it too early turn into inevitable liquidations.
“Please note that at time of publication, top wallets # 1, # 2, and # 5 hold 50.5%, 7.0% and 3.0% of total turnover, respectively,” warns Binance. – SHIB is a relatively new token and therefore carries increased risks of volatility. Please ensure that you have adequately assessed the risks, conducted your own research on the fundamental characteristics of SHIB, and fully understood the project before trading. ”
While SHIB continues to grow. Amid the announcements of Binance and FTX, its price increased by another two and a half times to $ 0.00003174, and the growth over the past 30 days is already 45,000%. Early SHIB investors can’t help but welcome listing on major exchanges given the liquidity gate it opens up.
The wallet of the largest SHIB holder mentioned by Binance belongs to the creator of Ethereum Vitalik Buterin. Under the terms of the SHIB launch, half of the token issue was blocked on Uniswap, and the other half was sent to Buterin. At the maximum, the capitalization of SHIB was $ 31 billion.Thus, the value of the airdrop received by Buterin is many times higher than his own position in ETH, the volume of which, thanks to the recent rise in the price of the cryptocurrency, exceeded $ 1 billion.
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