Shiba inu

How One Shiba Inu Price Trade Minted A Crypto Millionaire

Buying a new cryptocurrency at a low market cap that goes on to explode in price is what makes crypto trading unique, with the closest analogy being buying Amazon stocks early on, or picking out penny stocks years ahead of the herd today, to close your position as a millionaire.

Stories like this are more common in the crypto markets however, with the exponential gains and high volatility that new crypto tokens are known for – particularly meme coins like Shiba Inu, Dogecoin and Pepe which capture the interest of retail investors and outperform the big caps like Bitcoin and Ethereum.

Shiba Inu Coin Price Trade Creates a Cryptocurrency Millionaire

Shiba Inu (SHIB) was one of the earliest meme coins, inspired by the first – Dogecoin (DOGE) – and created in August 2020 by the anonymous developer known only as ‘Ryoshi’. 

It was first tradeable at a price of approximately $0.000000000056, and not expected to perform well as it was originally intended as a joke coin, in response to DOGE – which uses the Japanese Shiba Inu dog breed as its logo.

In August 2020, one trader opened a small position in SHIB coin, worth just 0.043 ETH (at the time the equivalent of $17, now $82), tracked on Etherscan. For that swap on Uniswap, he received 202,179,695,624 SHIB tokens. 

As the screenshot above shows, its value today would be just over $1.5 million, even though the SHIB price is down approximately 90% from its all-time high – hit in October 2021. 

The trader paid a $4.70 gas fee, and at the time the Ether price was $403 – now almost 1,000 days ago. 

Its unknown when the trader sold his SHIB tokens, but his wallet is no longer holding that SHIB position.

What New Meme Coins Could Be the Next Shiba Inu?

Interestingly, at the time of writing that wallet holds over 100 tokens, mostly low market cap tokens and new meme coins, such as Baby Shiba Inu, although in small amounts that may be considered dust. He currently holds less than one dollar of the original SHIB.

Those small dust amounts however would indicate that the savvy trader is often investing in new cryptocurrency tokens, and selling them for a profit, as he did with Shiba Inu – unlike a famous early investor in Pepe coin who became a crypto millionaire but was blacklisted from selling.

yPredict Platform Launches Soon

An upcoming cryptocurrency, yPredict ($YPRED) has been gaining attention amongst hunters of the next big crypto. 

The yPredict platform is an innovative AI-driven ecosystem built on the Polygon blockchain, aiming to simplify the trading process for both new and experienced crypto investors, and provide them with ‘real-time trading signals’, according to the ypredict.ai website.

Jacob Bury, a Crypto YouTuber with almost 20,000 subscribers, has expressed optimism about yPredict’s potential for significant growth, while another influential figure in the crypto space, Crypto Zeus, is also supporting the project.

Bury specifically mentioned the staking rewards associated with $YPRED as one of the reasons for his endorsement. This feature offers an attractive advantage for individuals seeking a passive income stream.

The user-friendly yPredict ecosystem combines various valuable features within a single platform, eliminating the need for users to register with multiple service providers.

Among the compelling features available according to the whitepaper are AI-powered trading signals, market sentiment analysis, and automated chart pattern recognition.

yPredict users have the option to subscribe to advanced price prediction models developed by the top 1% of AI experts. Subscription fees for these models are denominated in $YPRED, the native token of the platform.

$YPRED is currently available to buy on presale, which is close to selling out with almost $3 million raise. During the presale, $YPRED tokens are priced at $0.09 and can be bought with ETH, MATIC, or a debit / credit card.

Here at Coingape we also recently listed three new meme tokens that have been gaining traction on social media.

Visit yPredict Presale

Disclaimer
This article is a paid publication and does not have journalistic/ editorial involvement of CoinGape. CoinGape does not endorse/ subscribe to the contents of the article/advertisement and/or views expressed herein. Do your market research before taking any actions . The author or the publication does not hold any responsibility for your personal financial loss.

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