A crypto wallet shows that an investor bought $ 8,000 worth of shiba inu coins last year. Today it is worth $ 5.7 billion.

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A crypto investor bought around $ 8,000 worth of shiba inu coins in August 2020.

A little over a year later, the $ 8,000 trade turned into a value of around $ 5.7 billion.

The Shiba inu coin has grown by more than 7 million percent since its debut in August 2020.

In what is dubbed the greatest individual trade of all time, one crypto investor turned around $ 8,000 into around $ 5.7 billion by purchasing billions of coins from shiba inu shortly after its debut.

The series of transactions began in August 2020, when the investor purchased around 70 trillion coins of shiba inu, according to their associated crypto wallet. Shiba inu coins started trading on August 1, 2020, and the investor took note of that day and made their first shiba inu purchase, purchasing around 70 billion coins.

Around the time of the investor’s $ 8,000 purchase, the shiba inu coins were trading at around $ 0.000000000189. Today, the cryptocurrency is trading at around $ 0.00007941, which is a rapid gain of over 7 million percent over 14 months.

The crypto wallet now holds more than 13% of the total supply of shiba inu coins, which has a total circulating supply of 549 trillion coins, according to CoinMarketCap.

The unlikely rise of Shiba inu catapulted the memes-inspired cryptocurrency to a total market valuation of nearly $ 45 billion, eclipsing dogecoin and becoming the ninth most valuable cryptocurrency on Thursday morning.

The upward move has been a headache for many investors who see the shiba inu coin as nothing more than a joke based on another cryptocurrency known as dogecoin, which itself was created. to make fun of other cryptocurrencies like bitcoin and ether.

Whether the 70 trillion shiba inu coin holders will be able to liquidate their holdings without lowering the price remains to be seen, but for now they are holding on.

Read more: 25-year technical strategy veteran shares 5 altcoins near or at 52 week highs that are about to burst – and explains why Q4 is ‘a very positive time’ for bitcoin

Read the original article on Business Insider

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