A SHIB hodler who spent $3,400 on the memecoin last August is now a crypto billionaire from that purchase alone, with the asset gaining 94278239.8%% over the past year.
An address with the foresight to purchase $3,400 worth of Shiba Inu (SHIB) last August has seen the value of the coins grow to a whopping $1.55 billion today.
In total the unknown person has bought SHIB 44 times since August 2020 — with $3200 the largest purchase at any one time — and their total holding of 70,200,003,107,594 SHIB is now worth $5.63 billion.
After the wallet address was shared on Twitter, user “Untraceable” questioned whether the SHIB market was liquid enough to “absorb $5.7 billion if this wallet sells?”
According to Etherscan, the anonymous SHIB hodler purchased the dog-themed token on nine occasions in August 2020, spending a total of $3,400 worth of Wrapped Ethereum (WETH) that month.
As the price of SHIB has since gained more than 94,278,239.8%% over the past year to sit at $0.00008094 at the time of writing, the hodler has become a crypto billionaire from their August purchases alone.
According to data from CoinGecko, the total market cap of SHIB is now worth $40.3 billion. The asset’s mammoth 1063% gain in value over the past 30 days has seen SHIB oust the beloved Dogecoin (DOGE) it was modeled on as a top ten ranked coin.
By CoinGecko’s measurement, $SHIB has definitively flippened $DOGE. An absolutely historic day for memecoins https://t.co/z5GZ0w4X8c pic.twitter.com/ag55OqQMlK
— Joe Weisenthal (@TheStalwart) October 27, 2021
At the time of writing, SHIB is currently ranked ninth with, while DOGE is sitting at eleventh with a market cap of $31.6 billion. The flippening of DOGE has sparked a new meme online in which people are calling Dogecoin a “boomer meme coin.”
Is doge a boomer coin now?
— Mendo Midz (@MendoMidz) October 27, 2021
While SHIB has seen a meteoric rise of late, DOGE’s appreciation fails to match up in comparison, with the elder memecoin gaining a mere 18.5% over the past 30 days to sit at $0.23.
