Famous market watcher and Binance whale Bull.TRX recounts how a patient Shiba Inu investor witnessed life-changing gains on their SHIB investment.
According to Bull, TRX, an unknown investor, purchased $8,000 worth of SHIB in October 2020, two months after Shiba Inu launched. A few months later, due to a massive decline in SHIB’s price, this investment dropped to $17.
Interestingly, after a few months, the value of the investor’s SHIB holding skyrocketed to $5.7 billion, marking a jaw-dropping ROI of 7,124,900%.
Significance of Holding
Reacting to this development, the analyst noted that investors are unlikely to make such extraordinary gains from frequently buying and selling SHIB. This implies that the unknown investor made a remarkable profit by holding onto SHIB for a longer period, irrespective of short-term price fluctuations and volatility.
Furthermore, they encouraged crypto investors to believe in Shiba Inu’s long-term potential and continue holding onto the asset until they record remarkable gains.
Notably, Bull.TRX emphasized that life-changing gains are on the way, suggesting that patient investors who hold onto SHIB for the long term could register substantial profits that could change their financial status.
Shiba Inu Traders React to Recent Dip
The tweet follows a major downturn across the broader market, wreaking havoc on the prices of major assets, including SHIB. As reported earlier, Shiba Inu was one of the recipients of the recent downturn, having crashed below the $0.000013 price territory due to negative U.S. macroeconomic data.
Expectedly, several investors hurriedly converted their SHIB to less risky assets like stablecoins, hoping to repurchase the token when the market stabilizes.
However, Bull.TRX advises against this frequent buying and selling of SHIB, emphasizing that investors can only make life-changing gains by believing in the asset’s long-term potential.
Most Successful Trade in History
The highlighted story is characterized as the most successful individual crypto trade. Recall that Shiba Inu’s ecosystem team called attention to the trade in the fifth edition of its weekly magazine.
Data from Etherscan shows the investor leveraged the dollar-cost averaging (DCA) technique to purchase 103.3 trillion SHIB from August 1, 2020, to February 2, 2021. Overall, the unknown investors acquired these tokens using $8,000 worth of Ethereum (ETH).
After making substantial gains, the investor sold 33.13 trillion SHIB between February 17 and April 18, 2021, leaving the remaining 70.17 trillion SHIB in their wallet. The value of these remaining tokens surged to $5.712 billion on October 27, 2021, a day before SHIB registered an all-time high of $0.00008845.
Can Shiba Inu Repeat This Feat?
It is worth mentioning that Shiba Inu turned many average-income earners into overnight millionaires and billionaires. Notably, the dog-themed token achieved this feat without having any major project to its name.
Currently, Shiba Inu has multiple projects within its ecosystem that could drive its adoption and position SHIB for a significant rally. These projects include Shiba Eternity, Shib: The Metaverse, ShibaSwap, Shiboshi, and SHEboshi, among others.
Moreover, the recent launch of ShibTorch is also expected to bolster the number of tokens permanently removed from the circulating supply, thus increasing the value of the remaining ones.
With all Shiba Inu-related projects expected to transition to Shibarium, more SHIB tokens will be incinerated using part of the network’s transaction fees. This could pave the way for a major rally, surpassing the records registered in the past.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
