fbpx
QQQ
-2.71
348.05
-0.78%
DIA
-5.86
344.51
-1.73%
SPY
-7.07
429.04
-1.68%
TLT
+ 2.69
140.35
+ 1.88%
GLD
-0.87
166.72
-0.52%

He Invested $17 In Shiba Inu. Now He Has Almost $6M

May 12, 2021 6:10 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
He Invested $17 In Shiba Inu. Now He Has Almost $6M

“Dog meme tokens” have captured the attention of crypto market participants – most recently Shiba Inu token (SHIB) took the spotlight after gaining 1479% in seven days.

What's even more impressive is the token’s overall returns to early holders who purchased SHIB in October 2020.

What Happened: According to Etherscan, one token holder turned $17.53 into over $5.8 million after holding onto his initial investment for just 197 days.

The token holder’s wallet address also reveals more recent purchases of Papa Elon (PLON) tokens and StarElon tokens (StarLon) approximately 17 days ago. According to transaction details, PLON’s value has also doubled since his purchase.

See also: How to Buy Shiba Inu (SHIB)

Why It Matters: The recent surge in SHIB’s price has made even its more recent buyers sizeable gains in a short period of time.

The hype surrounding the Shiba Inu-themed cryptocurrency has also led to major crypto exchanges listing the token.

See also: DOGE Copycats And Meme Coins Send Ethereum Gas Fees To Record Highs

A few days ago, Binance announced that it would list SHIB, causing its price to surge 150%. Today, another major crypto exchange OKEx listed SHIB on its platform.

"We are pleased to welcome Shiba Inu to the OKEx platform. I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs,” said OKEx CEO Jay Hao.

Price Action: At press time, SHIB was trading at $0.00002915, down 10.41% overnight. The coin’s 24-hour trading volume was also down over 60% to $8.64 billion.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Dogecoin Fans Launch Baby Doge Coin, With Average Daily Gain Of 1,213%

Dogecoin (CRYPTO: DOGE) fans have launched Baby Doge Coin (CRYPTO: BABYDOGE) in an attempt to improve its "transaction speeds & adorableness," according to the official website. read more

Pro Wrestler MJF Creates His Own Crypto Because Bitcoin, Dogecoin Are 'Garbage'

American professional wrestler Maxwell Jacob Friedman, who performs for All Elite Wrestling, has launched his own cryptocurrency. read more

Here's What's Happening In India's Uncertain Crypto Landscape

What Happened: After several conflicting reports over the course of the past few months, India may now move to officially classify cryptocurrency as an asset class. read more

Introducing The First S-DEX: Interview With CryptoArena's CEO

Despite the spectacular collapse the entire cryptocurrency world had to face last month, the popularity of cryptocurrency is far from behind the scenes. read more