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Kwame Opoku, an African investor and global business speaker, has disclosed how he prematurely offloaded his $19 Shiba Inu holding in the last bull run to urge prudence with profit-taking in this cycle.
Opoku narrated this account in a recent post on X to encourage new market participants in this cycle’s bull run to learn from his mistake. He confirmed he would have secured a profit of $108,000 from his early Shiba Inu engagement had he held on to the asset much longer.
I would have made 108,000$ from $Shiba with 19$ if I Didn't Make this Mistake – Learn from my Pain
Dear First Time BULL RUN Noob! Please for the sake of say Poverty na Bastard I say make I help you!
Bookmark this and Read it every morning!
Yes I know the Name of the Game is… pic.twitter.com/RyPfBRdy8W
— futuristkwame.eth (@futuristkwame) March 28, 2024
How $19 Shiba Inu Turned $108K
In the post, Opoku highlighted that his first encounter with Shiba Inu was in November 2020, precisely two months after the asset launched. Specifically, he heard about SHIB through the comment section of Elon Musk’s first post on Dogecoin (DOGE).
Opoku disclosed picking interest in SHIB from then on. Notably, SHIB hit a bottom of $0.00000000005636, with ten leading zeros, in November 2020, the same month Opoku first engaged with the cryptocurrency.
The investor noted that he hesitated to invest in Shiba Inu because of expensive gas fees on Ethereum, and the asset was only tradable on Uniswap at the time. Nonetheless, he eventually committed $19 after paying $17 in gas fees. The $19 earned more than a billion units of SHIB tokens.
According to Opoku, he liquidated his Shiba Inu holdings when the portfolio had grown to $507. However, he regretted the action, particularly considering that the same portfolio would have earned him $108,000 had he offloaded it at the high of $0.00008616. As a result, he urged new investors in the space to be prudent with profit-taking.
Furthermore, Opoku noted that the crypto market exceeded $3 trillion in the last cycle. He suggested that even a $10 trillion global cap could be a conservative estimate for this cycle. The foundation of this projection is the presence of ETFs and other institutional participation in the crypto sphere.
“Do whatever it takes to starve yourself of any demon [that] convinces you to sell too early. At least wait for BTC to clock a new ATH, and let AltSeason come first before you sell,” the investor cautioned.
Similar Experience
X user “dyor_specialist” disclosed a similar experience, selling 1 billion SHIB for $3,500, which could have been $88,000.
Notably, these stories join the growing accounts of missed fortunes from individuals who parted early with Shiba Inu.
The Crypto Basic has reported the case of a Dubai-based investor who bought SHIB with $4,000 but experienced a dip shortly after the acquisition. He liquidated the portfolio upon reattaining his initial investment of $4K. However, his early SHIB investment would have been worth $70 million if he had been patient.