29 May 2023 09:05, UTC
Reading time: ~2 m
A Shiba Inu (SHIB) trader turned a $30k investment into $450k in three years through successful trades with several tokens, including SHIB.
In the crypto scene where fortunes can be made and lost in a moment’s notice, one Shiba Inu (SHIB) trader has turned a modest investment of $30,000 into a staggering $450,000 in just three years while trading several tokens.
According to data from OnChainDataNerd, a crypto market tracker, the Shiba Inu trader aptly designated as a Meme Lord demonstrated an uncanny ability to identify and ride promising tokens to substantial gains.
This Meme Lord turns $30K to about $450K in 3 years (already move some funds out).
It managed to be early in $SHIB, $TSUKA, and $PEPE.
Let’s learn its strategy🧵 pic.twitter.com/SmW2a22YFx
— The Data Nerd (@OnchainDataNerd) May 28, 2023
While this Meme Lord has withdrawn some funds already, the individual’s investment journey offers valuable insights into their strategies. The trader’s most notable successes were investments in three projects: Shiba Inu (SHIB), Pepe Coin (PEPE), and TSUKA.
The trader allocated $2,500 worth of Ethereum (ETH) to invest in SHIB in March 2021. Sensing an opportune moment near the peak in May, the individual decided to cash in on the investment. While the exit timing may not have been perfect in hindsight, the trader managed to secure a profit of 22x, amounting to $60,000.
Similarly, the trader entered the PEPE market on April 17 and took a mild profit on May 5 after the token’s listing on Binance, the largest crypto exchange. Holding onto 14 billion PEPE, the trader secured a gain of 14 times their initial investment, amounting to a remarkable $70,000 profit.
Nonetheless, the biggest profit made by this trader came from an investment in TSUKA, which began with a mere $300 USDC purchase in May 2022 and amounted to a mind-blowing 1000x return and a gain of $250,000.
Reports of similar cases have made headlines in recent times. Last week, The Crypto Basic reported how a similar SHIB trader achieved an impressive 200% return on investment from strategic trades made through 2021. The trader had accumulated over 900 billion SHIB tokens at low prices and offloaded the tokens during a time of peak performance.
Read the full article here