This Crypto Wallet Turns $8000 worth Shiba Inu (SHIB) to $5.7 Billion in Just 400 Days

By Bhushan Akolkar
October 28, 2021 Updated October 28, 2021
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SHIB

Shiba Inu’s unstoppable price rally in October this month has helped this crypto investor turn a mere $8000 worth of investment into a staggering $5.7 billion. As reported by Morning Brew today:

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.

Courtesy: Morning Brew

Shiba Inu has been consistently hitting new all-time highs over the last week. Dodging the overall crypto market downtrend, Shiba Inu (SHIB) is up 41% as of press time trading at $0.000074 and becoming the world’s seventh-largest cryptocurrency by market cap.

With yesterday’s price rally, Shiba Inu has toppled giants like dogecoin (DOGE), XRP and Polkadot (DOT). The meme cryptocurrency has rallied 150% over the last week and more than 600% so far in this month of October.

Shiba Inu Exchange Supply Tanks

As per on-chain data provider Santiment, the total supply of SHIB coins at the exchange has touched a 4-month low. The data provider reported:

SHIB is now up an astounding +174% in the past week, as ‘diamond-fisted’ hodlers continue to be rewarded. #ShibaInu‘s supply of coins that exist on exchanges continues moving down, as more and more traders are moving coins safely into cold wallets.

Courtesy: Santiment

The meme cryptocurrency Shiba Inu has made solid gains this month and has been the talk of the crypto town recently. Its journey to the top ten crypto list have been like a blitzkrieg.

After such massive gains this month, it is difficult to say whether of Shiba Inu will continue its rally ahead from the current levels. The 24-hours trading volumes for Shiba Inu (SHIB) have skyrocketed to a staggering $40 billion beating some of the top players like Ethereum.

Thwe SHIB trading volume has reached pretty close to that of Bitcoin.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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