Shiba Inu Turns $2000 Into $1 Million in Just 3 Years

Shiba Inu: Turning $2,625 Investment into $1 Million+

An investor's success story with Shiba Inu has once again captured attention worldwide. According to reports, a Shiba Inu holder who had been inactive for about three years recently became active. This holder has earned over $1 million on an investment of $2,625 made three years ago. It's worth noting that this holder, with wallet address 0xe338, earned nearly 419 times the return on their initial investment of $2,625. The amount invested in Shiba Inu was converted into $1.1 million. This wallet's Shiba Inu holdings were searched by the on-chain security firm Lookonchain and shared on social media platform X.

The holder, who had been inactive for three years, spent 2 ETH ($2,625) to purchase 48.09 billion $SHIB on February 1, 2021. However, recently, upon becoming active, the holder sold their holdings for 278.7 ETH ($1.1 million). Through this trade, the SHIB holder earned a profit of 419 times their initial investment, showcasing how smart investment in Shiba Inu can yield significant profits. As of the time of writing, SHIB was trading at $0.00002874.

Inactive Crypto Wallets Becoming Active Again

The cryptocurrency market is currently witnessing a surge, primarily attributed to the approval of the spot Ether ETF, pushing ETH price near $3950. Similarly, BTC price has also seen a rise. Memecoins have also surged during this period. Additionally, two mysterious Bitcoin Whale Wallets became active after a decade, transacting nearly 1,000 Bitcoin. Recently, activity was observed in another Bitcoin wallet from the Satoshi Nakamoto era, signaling bullish market trends. Moreover, meme coins like Shiba Inu and Pepe have also experienced bullish activity recently.

SHIB Burn Rate Increase Could Boost Token Price

The development team behind the popular meme token Shiba Inu is continuously increasing its burn rate, raising hopes for a surge in the token's price. As per reports, over 45% of SHIB tokens have already been burned. The primary objective behind token burning is to make the token more valuable. Alongside token burning, various changes in the token's ecosystem are expected, contributing significantly to the token's price appreciation. Experts believe that the increase in SHIB's burn rate will be crucial for driving up its price, as reducing the token's supply will lead to an increase in demand, playing a vital role in any token's price surge.

Also Read:- Ethereum Futures Reach All-Time Highs with ETF Approval