A Lookonchain report has revealed that an early investor in the cryptocurrency Shiba Inu (SHIB) has made a substantial profit of $1.1 million. The investor initially purchased 48.09 billion SHIB tokens on February 1, 2021, just five months after the token’s debut. At the time, the tokens were acquired by swapping 2 Ethereum (ETH) worth $2,625. After remaining dormant for 3.5 years, the investor’s wallet was recently reactivated, and all 48.09 billion SHIB tokens were exchanged for 278.7 ETH, equivalent to $1.1 million. This represents a profit margin of 419x, according to Lookonchain. The transaction was carried out on the decentralized exchange Uniswap. The investor’s wallet currently holds 284.29 ETH with no SHIB balance. The news has sparked discussions within the Shiba Inu community, as some wonder why the investor did not sell when the token reached its all-time high of $0.00008845 on October 28, 2021. Selling at that price would have resulted in a return of $4.2 million. However, even with the $1.1 million profit, the investor’s original investment of $2,625 has yielded a substantial return. Shiba Inu has previously rewarded early investors, with one anonymous investor turning a $30,000 investment into $450,000 and another investor making a return of $9.6 million after investing an undisclosed amount in SHIB in 2021. Currently, SHIB is trading at $0.00002488, having increased 2.1% in the past 24 hours. It is down 71.98% from its all-time high, but there are predictions within the Shiba Inu community that it could surpass its previous ATH in the current market cycle, with some suggesting a price of $0.0001. It is important to note that this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.
