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In a surprising turn of events, a mysterious investor in Shiba Inu (SHIB) has recently made headlines by cashing out a remarkable $3.2 million profit. This move marks an impressive 200% increase in investment returns over a period of 2.6 years.
The whale initially entered the Shiba Inu market in October 2021, acquiring a substantial 199 billion SHIB tokens at an estimated cost of $1.68 million from both Coinbase and decentralized exchanges. Despite facing a setback of $176,000 in the initial trade, the investor persisted, displaying patience and belief in SHIB investment.
The Shiba Inu token, introduced in 2021, experienced a significant surge in value during that bull market, reaching its peak price of $0.0000857 per token. However, it later faced jaw-dropping prices, mirroring broader market trends.
Undeterred by the market turbulence, the investor held onto their SHIB holdings, demonstrating a steadfast commitment to their investment strategy. Now, in a strategic move, the investor has capitalized on the recent resurgence of SHIB, with the token's price rising by 165% to its current levels.
After navigating the infamous ups and downs of the crypto market, the investor seized the opportunity to cash out, depositing the SHIB tokens, now valued at $4.88 million, back into Coinbase. This move resulted in a substantial profit of $3.2 million, representing an impressive 191% increase in investment returns.