Today there is a very different development for the popular meme coin SHIB. An investor has a huge profit. Let’s look at the details of the news.
Huge profit with SHIB
A Shiba Inu (SHIB) trader made successful transactions with various tokens, including SHIB. Accordingly, he converted an investment of 30 thousand dollars to 450 thousand dollars in three years. This is an interesting development in the crypto world, where wealth can be gained and lost in an instant. According to the data of the cryptocurrency market tracker OnChainDataNerd, this is our news. The Shiba Inu trader, nicknamed Meme Lord, has displayed an uncanny ability to identify promising tokens and make significant profits.
This Meme Lord has already withdrawn some funds. But it offers valuable information on investment journey strategies. The investor’s most notable achievements are his investments in three projects. Shiba Inu (SHIB), Pepe Coin (PEPE) and TSUKA. The investor allocated $2,500 worth of Ethereum (ETH) to invest in SHIB in March 2021. On the other hand, he caught a suitable moment close to the peak in May. Accordingly, he decided to turn his investment into cash. The exit timing isn’t perfect in retrospect. However, the investor managed to make 22 times the profit of $ 60,000.
Investing in PEPE too
Similarly, except for SHIB, the trader entered the PEPE market on April 17. Accordingly, the token made a slight profit on May 5 after being listed on Binance, the largest crypto exchange. The investor held 14 billion PEPE. He made a remarkable profit of $ 70,000, earning 14 times the return on his initial investment. However, the biggest profit made by this investor started with a purchase of only 300 USDC in May 2022. There was a mind-boggling 1000x return. It came from an investment in TSUKA, which generated $250,000 in earnings.
News of similar cases has been making the headlines lately. As we mentioned at Kriptokoin.com, a similar SHIB investor reported how he achieved an impressive return on investment of 200% from his strategic transactions until 2021. The investor has accumulated more than 900 billion SHIB tokens at low prices. It also sold off tokens at a time of peak performance.
Token burning continues
Over 2.73 Billion Shiba Inu (SHIB) were burned last week. Accordingly, the community burned 2.73 Billion SHIB. However, the burning rate of the Shiba Inu has decreased in the past week. Shibburn.com recently published a report. Accordingly, the report revealed that the Shiba Inu Community had burned 2,734,359,742 (2.73 Billion) SHIBs in 130 separate transactions in the past seven days. This latest figure represents a decrease from last week, when 3,054,599,199 (3.05 billion) SHIBs were permanently withdrawn in eight separate transactions. The decrease indicates a significant decrease of 52.77%.
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