$3,400 worth of SHIB now worth $1.55 billion

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 94,278,239.8% 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 on Thursday.

In total, the unknown person has bought SHIB 44 times since August 2020 — with $3,200 as 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 $5.7b 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 capitalization of SHIB is now worth $40.3 billion. The asset’s mammoth 1,063% gain in value over the past 30 days has seen SHIB oust the beloved Dogecoin (DOGE) it was modelled on as a top 10-ranked coin.
At the time of writing, SHIB is currently ranked ninth, while DOGE is sitting at 11th with a market cap of $31.6 billion. The flipping of DOGE has sparked a new meme online in which people are calling Dogecoin a “boomer meme coin.”