worlds greatest trade

$5.7 Billion SHIBA INU Wallet

In what’s being called the greatest personal trade of all time, an unknown investor turned about $8,000 into $5.7 billion by buying trillions of Shiba Inu coin shortly after it debuted, around 14 months ago.

View their wallet here:

The mystery trader began purchasing $SHIB in August 2020, when they bought about 70 trillion Shiba Inu coins, began trading on August 1, 2020.

About the time of the investor’s $8,000 purchase, Shiba Inu coins were trading at about $0.000000000189. This month, the cryptocurrency is trading at about $0.00007941, which represents an rapid 14-month gain of more than 7 million percent.

The crypto wallet once owned more than 13% of the total supply of Shiba Inu coin, which has a total circulating supply of 549 trillion coins, according to CoinMarketCap, but the owner seems to have since a large number of coins.

It’s one thing to be a billionaire on paper, but could the SHIB actually realize those gains?

If the wallet holder decided to unload all 70 trillion coins at once using Uniswap, they will be facing a steep cost. The site’s interface reveals that to swap that much Shiba for USDC, there would first be a fee of roughly $3 million. Second, Uniswap estimates the trade would result in a massive price impact of negative 99 percent, leaving the SHIB seller with roughly $5 million in USDC.

And that’s not even mentioning taxes…“That’s about $7 billion in unrealized taxable gains,” one Twitter user wrote.

Leave a Reply

%d bloggers like this: