Someone bought $3,400 worth of SHIB last August. It’s now worth $1.55 billion

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A SHIB holder who spent $3,400 on the meme coin last August is now a crypto billionaire from that purchase alone, with the asset gaining 94278239.8%% over the past year.

An address with the foresight to purchase $3,400 worth of Shiba Inu (SHIB) last August has seen the value of the coins grow to a whopping $1.55 billion today.

In total the unknown person has bought SHIB 44 times since August 2020 — with $3200 the largest purchase at any one time — and their total holding of 70,200,003,107,594 SHIB is now worth $5.63 billion.

After the wallet address was shared on Twitter, user “Untraceable” questioned whether the SHIB market was liquid enough to “absorb $5.7 billion if this wallet sells?”

According to Etherscan, the anonymous SHIB holder purchased the dog-themed token on nine occasions in August 2020, spending a total of $3,400 worth of Wrapped Ethereum (WETH) that month.

As the price of SHIB has since gained more than 94,278,239.8%% over the past year to sit at $0.00008094 at the time of writing, the holder has become a crypto billionaire from their August purchases alone.

According to data from CoinGecko, the total market cap of SHIB is now worth $40.3 billion. The asset’s mammoth 1063% gain in value over the past 30 days has seen SHIB oust the beloved Dogecoin (DOGE) it was modeled on as a top ten ranked coin.

At the time of writing, SHIB is currently ranked ninth, while DOGE is sitting at eleventh with a market cap of $31.6 billion. The flippening of DOGE has sparked a new meme online in which people are calling Dogecoin a “boomer meme coin.”

VIA:https://cointelegraph.com/news/someone-bought-3-400-worth-of-shib-last-august-it-s-now-worth-1-55-billion

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