A SHIB hodler has became a crypto billionaire after he spent $3,400 on the memecoin last August, with the profit of asset worth 94,278,239.8% over the last year.
The value of coin has seen by an address with the foresight to buy worth 3,400 dollars of Shiba Inu (SHIB) last August. They on thursday grew to a whopping worth of 1.55 billion dollars.
SHIB has been bought by that person 44 times since August 2020 — where his largest purchase reached $3,200 at one time — and their total holding of 70,200,003,107,594 SHIB is now worth $5.63 billion.
After the address of wallet was shared on Twitter, Untraceable users questioned whether the SHIB market was liquid enough to “absorb $5.7b if this wallet sells?”
According to Etherscan, the anonymous SHIB hodler purchased the dog-themed token on nine occasions in August 2020, spending a total of $3,400 worth of Wrapped Ethereum (wETH) that month.
The anonymous hodler has now become a crypto billionaire after the price of SHIB profited 94,278,239.8%% over the past year.
According to data from The CoinInfo, SHIB’s total market capitalization is worth $40.3 billion. The asset’s mammoth 1,063% profit in value over the past 30 days has seen SHIB oust the beloved Dogecoin (DOGE) it was ranked as a top 10 coin.
SHIB is currently ranked on ninth, while DOGE is sitting at 11th 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.”