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Someone bought $ 8,000 in Shiba Inu coins last year - today's value: $ 5.7 billion

 


The Shiba Inu token has had an extremely bullish rally in the past few days, which is currently cooling down a bit with a correction. The meme coin has fallen approximately 30 percent in the past 24 hours and is currently trading at $ 0.000061. Analysts have divided opinions on further price developments.

For one, it is believed that the profits from the meteoric rise were invested in other coins such as Dogecoin or Bitcoin, while the other speculate that this may just be the beginning of the altcoin rally in Q4.

Billionaire through Shiba Inu (SHIB) Investment

A tweet published by one of the most popular business newsletters, Morning Brew, revealed that a trader who then invested $ 8,000 in Shiba Inu is now $ 5.7 billion.

Another trader who invested $ 3,400 in SHIB in August last year has now grown in value by over $ 1.5 billion. Not every early SHIB investor has made exorbitant profits. The Twitter user " hundo " bought Shiba Inu Coins for $ 200 last year and sold them again promptly. His investment today would be worth a whopping $ 21 million.

SHIB's popularity continues to grow

A report from MarketWatch found that SHIB is one of the most searched cryptocurrency terms this year. According to the report, Bitcoin remains the most popular with 22 million searches, while Ethereum has over 6 million searches. The Meme Coin ranks third on the list with around 3 million average monthly searches.

The MarketWatch report is also borne out by the mentions of the asset on Twitter just yesterday. According to the information available, the asset has been mentioned over 1 million times by users of the social media website.

Shiba was trading at a low of $ 0.0000069 earlier this month, but is up over 900% this month alone, hitting its new ATH. That being said, market capitalization and trading volume rose almost 100% in the last 48 hours alone.

This incredible rise in price led to it overtaking the older meme coin Dogecoin during yesterday's rally, according to CoinGecko. Despite the correction, SHIB is among the top 10 cryptocurrencies by market capitalization, ahead of digital assets like the Circle-backed stablecoin, USDC, the link token from Chainlink and Luna from Terra.

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