$2,625 Turns into $1.1 Million | Shiba Inu (SHIB) Early Investor Cashes Out After 3.5 Years

A Shiba Inu (SHIB) investor who initially invested $2,625 in 2021 has recently cashed out for $1.1 million after holding for three and a half years.

This article details the journey of SHIB's price, the impact of a massive sell-off, and why experts believe the cryptocurrency will continue to rise.

Read on for the latest insights and developments in the Shiba Inu ecosystem.

Selling 48 Billion SHIB for a 419x Profit

A large-scale trader who purchased Shiba Inu (SHIB) in February 2021 and held onto it for three and a half years has sold their holdings on May 28, 2024, realizing a staggering 419-fold profit.

According to blockchain analysis firm Lookonchain, the trader initially bought 48.09 billion SHIB for 2 ETH (approximately $2,625) on February 1, 2021, and recently converted it into 278.7 ETH (around $1.1 million).

SHIB Price Movement from 2020 to 2024

The price of SHIB surged to around $0.000052 in November 2021 during a bullish market. However, the trader continued to hold SHIB even after this peak.

Despite SHIB's price dropping to around $0.0000064 following the end of the bullish trend, it began rising again around February this year. As of the writing of this article, the price stands at $0.000029 per SHIB.

SHIB Price Continues to Rise Despite Large Sell-Off

Despite the massive sale of 48.09 billion SHIB, the price of SHIB has not been adversely affected. As of the time of writing, SHIB has seen a 15.8% increase in price over the past 24 hours.

The ongoing development of various projects within the Shiba Inu ecosystem, including the new layer-2 blockchain "Shibarium," has experts and analysts predicting further price increases.

Notably, early Bitcoin investor Davinci Jeremy has also expressed a positive outlook on SHIB, stating it is a good buy.

>> For the latest SHIB-related news, click here