One article to understand that the skyrocketing Shiba Inu coin created the most profitable transaction in history

At the time of the purchase of 8,000 US dollars, the price of a Shiba Inu coin was approximately 0.000000000189 US dollars, and now fourteen months later, the price of this virtual currency has reached 0.00007941 US dollars, which will mean , In just fourteen months, the return on investment of Shiba Inu Coins was as high as 7,000,000%.

One article to understand that the skyrocketing Shiba Inu coin created the most profitable transaction in history

In August 2020, when Shiba Inu (Shiba Inu) just came out, a virtual currency investor invested $8,000 in it, and just over a year later, the value of this $8,000 investment has soared. Rising to 5.7 billion US dollars, the rate of return during this period exceeded 7 million%.

The most profitable deal in history

Recently, the price of Shiba Inucoin has continued to rise sharply. It has now surpassed its counterpart Dogecoin and has become the ninth largest virtual currency in the world. Under this astonishing increase, it has given birth to a history that can be regarded as the ninth largest virtual currency in the world. The most profitable single investment transaction-a virtual currency investor’s $8,000 investment rose to $5.7 billion in 14 months.

According to the relevant virtual currency wallet data, in August 2020, shortly after the Shiba Coin came out, an investor made a series of purchase transactions, invested about 8,000 US dollars, and purchased about 70 trillion Shiba Coins. Shiba Coins started trading on August 1st last year, and the investor bought a sum of about 700 billion on the same day.

At the time of the purchase of 8,000 US dollars, the price of a Shiba Inu coin was approximately 0.000000000189 US dollars, and now fourteen months later, the price of this virtual currency has reached 0.00007941 US dollars, which will mean , In just fourteen months, the return on investment of Shiba Inu Coins was as high as 7,000,000%.

The data of the virtual wallet also shows that the Shiba Inu coins in the hands of this investor is equivalent to more than 13% of the total supply of Shiba Inu coins in the current market. According to the statistics of CoinMarketCap, the total amount of Shiba Inu coins in circulation is about 549. Trillions.

The rise of Shiba Inu Coins originally started with a joke, a common “fun” behavior on the Internet-first some people used Dogecoin to copy Bitcoin, and then some people used Shiba Inu coins to copy Dogecoin. However, it is the product of this joke that its total market value has reached nearly 45 billion U.S. dollars as of Thursday morning Eastern Time, surpassing Dogecoin and becoming the ninth largest virtual currency in the world.

The fact that this kind of counterfeit goods can advance so violently has indeed puzzled many investors, but the fact is that it happened. In fact, strictly speaking, it is not only Shiba Inu, but also Floki Inu, Doge Dash and Dogelon Mars. However, only Shiba Inu really poses a threat to Dogecoin and eventually replaces it.

The Past and Present of Shiba Inu Coins

Shiba Inu Coin was created in August 2000 by a mysterious person or team who called himself “Ryoshi”. It gradually emerged during the virtual currency surge in the first half of this year and attracted mainstream attention. In May, the etheric Square founder Bute Lin (Vitalik Buterin) donated to India the 50 trillion Shiba Inu money for the fight against SARS bailout, sparked widespread interest in the outside world of virtual currency, its price is over It’s soaring.

Although Shiba Inu Coin is a copy of Dogecoin, its technical core is different from the imitator. Dogs currency in essence is derived with Bitcoin litecoin is one of the core technology, but Shiba Inu currency is used in Ethernet currency technology, its supporters emphasized, which determines the Shiba Inu currency will have a more extensive use.

Although there have been rumors that Elon Musk is behind the skyrocketing Shiba Coin, the CEO of Tesla has specifically clarified that he has not invested in Shiba Coin. At the same time, recent transaction data show that the main producers of Shiba Coin’s rally are not ordinary retail investors.

Blockchain data company Nansen found that the main force behind the recent surge of Shiba Inu coin should be “smart money”, that is, a large household that frequently conducts millions of dollars in transactions and makes a profit of 100,000 dollars at every turn-if you use the currency circle In other words, it is the so-called “whale” group.

Although many people in the currency circle refer to Shiba Inu Coin as a “Dogecoin killer”, in fact, experts believe that the rise of Shiba Inu Coin will not bring any substantial damage to other virtual currencies, but on the contrary, it can help the coin. Circle gains higher popularity.

Virtual currency critic Lark Davis said: “We should be grateful to similar virtual currencies such as Shiba Inu and Dogecoin, which have brought many new investors.”

One of the characteristics of Shiba Inu coins is that the price of each coin is very low, even after the surge, it is only $0.00007941. This is because, unlike Bitcoin’s 21 million supply cap, the Shiba Inu coin supply cap has reached 1,000 trillion. This is very suitable for its advocates to encourage everyone to buy on various social media channels, because the price is very low, and people do not have to worry too much about losing money.

“Driven by the trend of social media, the price of Shiba Inucoin will continue to rise sharply.” According to Michael Kamerman, CEO of Skilling, a virtual currency trading platform, “the core point of the virtual currency movement is that it revolves around As the public unfolds, a large amount of information constitutes an intensive bombardment. Whether it is Dogecoin or the current Shiba Inu coin, the rise and fall of its price is entirely driven by social media.”

However, he also warned people: “Social media and financial influencers have contributed greatly to the promotion of the entire virtual currency concept, but if investors really want to make decisions about real money, they can’t just have fun online. , But you should do your own research and do your homework.”

“This is a high-risk investment. Like any other investment, you must understand what you are investing in, and you must make sure that you make a rational decision.” After all, speculate $8,000 to 570,000. 100 million US dollars, this can only be a super small probability event.

If this investor who holds 70 trillion Shiba Coins wants to throw away his investment, exchange for cash, and settle for safety, will Shiba Coins fall in price due to this massive sell-off? Only time can give the final answer, and at least for now, this investor is still holding on. (Fee green)

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/one-article-to-understand-that-the-skyrocketing-shiba-inu-coin-created-the-most-profitable-transaction-in-history/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2021-10-31 08:56
Next 2021-10-31 08:57

Related articles