An address forecasting the $ 3,400 purchase of Shiba Inu (SHIB) last August saw the coin’s value reach $ 1.55 billion today.
In total, the unknown person has bought SHIB 44 times since August 2020 – with $ 3,200 the largest purchase at any given time – and their total holdings of 70,200,003 107,594 SHIB are now worth $ 5.63 billion.
After sharing the wallet address on Twitter, the user “Untraceable” interrogates if the SHIB market was liquid enough to “absorb $ 5.7 billion if this portfolio sells?” ”
According to Etherscan, the anonymous SHIB hodler purchased the dog-themed token nine times in August 2020, spending a total of $ 3,400 on Wrapped Ethereum (WETH) that month.
As the price of SHIB has since gained over 94,278,239.8 %% in the past year to hit $ 0.00008094 at the time of writing, the hodler has become a crypto billionaire from its purchases alone. August.
According to data from CoinGecko, SHIB’s total market cap is now worth $ 40.3 billion. The gigantic 1063% gain in value of the asset over the past 30 days has seen SHIB oust the beloved Dogecoin (DOGE) it was modeled on as one of the top ten coins ranked.
– Joe Weisenthal (@TheStalwart) October 27, 2021
At the time of writing, SHIB is currently ranked ninth, while DOGE sits in eleventh with a market cap of $ 31.6 billion. DOGE’s turnaround has sparked a new online meme in which people call Dogecoin a “boomer meme coin.”
Is Doge Now a Baby Boomer Coin?
– Mendo Midz (@MendoMidz) October 27, 2021
Earlier today, the TBEN market team reported three reasons behind SHIB’s bullish momentum, pointing to increased user access via listings on several crypto exchanges, the launch of the company’s own NFT project. Shiba Inu nicknamed “Shiboshi’s” and an increase in open term interest. (OI) on several exchanges, including OKEx, FTX and Huobi.
Related: Mask Network, 1inch, and Shiba Inu ignore Bitcoin’s downtrend, posting 20% gains
While SHIB has seen a meteoric rise in recent times, DOGE’s appreciation does not match up by comparison, with the old memecoin only gaining 18.5% in the past 30 days to sit at 0.23. $.