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A Shiba Inu (SHIB) whale who secured $800,000 with an initial $4,000 investment missed out on clinching a $10 million return due to hasty selloffs.
Shiba Inu stands out as one of the crypto assets with a rich history of turning peanuts to fortunes. The cryptocurrency’s meteoric surge during the 2021 bull run represented the largest price spike for any mainstream asset in crypto history.
Research from CoinGecko confirmed that Shiba Inu successfully transformed $12 to $1 million from 2020 to 2021. Multiple early investors rode on this rally to retirement, but some, while they entered the market rally, missed out on more substantial gains due to hasty selloffs.
Investor Misses out on $10M
Blockchain data reveals the case of a particular market participant in this category, who procured billions of Shiba Inu with a mere $4,000 when the asset still traded around the $0.00000003 price level.
This investor leveraged Uniswap V2 to swap 3 Ethereum (ETH) worth nearly $4,000 for 122.92 billion SHIB on Jan. 31, 2021. At the time, Shiba Inu changed hands at $0.0000000325, allowing the market participant to amass more tokens for a discounted price.
However, as Shiba Inu began recording its price growth, this investor started selling off his holdings for meager profits. The first sale came up in April 2021, three months after his purchase. In this sale, the investor dumped 31.889 billion SHIB for 2 ETH worth $4,600 at the time.
This sale essentially allowed him to recover his initial $4,000 investment, as he looked to see how much Shiba Inu could present as returns. In the days that followed, he sold off additional tokens, dumping 7.6 billion SHIB on April 20, 5.7 billion SHIB on April 22 and 7.7 billion SHIB on May 7.
As Shiba Inu rallied to the $0.0000010 price territory, the market participant saw an opportunity to dump the remaining tokens he had, selling off 69.8 billion SHIB for 212 ETH on May 8, 2021. These ETH tokens were valued at $730K against the rates at the time. The last sale brought the investor’s total profit to $800K.
While the prospect of making $800,000 with $4,000, representing a 19,900% return on investment (ROI), is objectively attractive, this investor would have made much more if he had held onto the tokens until late 2021. At Shiba Inu’s all-time high of $0.00008845, the 122 billion tokens would be worth $10.8 million.
Similar Cases with Shiba Inu
In addition, at the current Shiba Inu Price of $0.00002688, the tokens are valued at $3.3 billion, representing a much higher return than the $800K. Certain investors have recorded cases of missed profits such as this, including an African entrepreneur who forfeited $108K by selling early.
Remarkably, Slash, a prominent YouTuber, revealed last year that he sold off his $2,000 Shiba Inu investment prematurely due to FUD, losing £300 pounds in the process. However, these tokens would have skyrocketed to a worth of $1 billion if he had held onto them.