The spectacular price gains of Shiba Inu (SHIB) in recent months have earned some traders significant profits. For example, a certain SHIB whale could have realized a profit of as much as $10 million if he had held his position longer.
Explosive profits and missed opportunities
On-chain data from the Shiba Inu network shows that some SHIB traders have made huge profits during the memecoin’s explosive price rise. A notable example is a whale who bought $4,000 worth of SHIB tokens in April 2021, when the altcoin was still worth around $0.00000003.
As the price of the memecoin rose, this investor sold some of his SHIB tokens to recoup his initial $4,000 investment, which in retrospect turned out to be a costly decision.
The price of SHIB continued to rise, and the whale sold more coins in April and May 2021. When SHIB’s price reached $0.0000010, about 30 times the purchase price, the whale sold all his Shiba Inu coins. In the end, the trader’s profit was $800,000.
While the $800,000 profit is already impressive compared to the original $4,000 investment, the whale could have made significantly more. During the 2021 bull market, SHIB’s price reached an all-time high of $0.000088. If the investor had not sold his Shiba Inu coins, he could have owned coins worth as much as $10.8 million at that point.
Trade €10,000 for free and get a 10 euro bonus
Do you want to enter the crypto world and perhaps buy Shiba Inu or another crypto? Then grab your chance now with this exclusive offer! Thanks to a special deal between Newsbit and Bitvavo, one of the most accessible and user-friendly crypto exchanges in Europe, our readers receive an exclusive offer.
Create an account with Bitvavo via the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you also don’t pay trading fees on your first 10,000 euros in transactions. Register now!
Source: https://newsbit.nl/de-gemiste-kans-hoe-een-shiba-inu-investeerder-108-miljoen-misliep/
