A Shiba Inu hodler who spent $8,000 on the meme coin in August 2020, is now a crypto billionaire, as the meme coin has gained 94,278,239.8% over the past year.
An address with the foresight to purchase $8,000 worth of Shiba Inu (SHIB) last August has seen the value of the coins grow to a whopping $5.7 billion at Shiba Inu’s all-time high of $0.00008845.

Shiba Inu in the early hours of today, flipped dogecoin and Polkadot’s DOT token in market capitalization to claim the #8 most valuable cryptocurrency by market capitalization. It however currently stands at #10 as the token price has retraced.

After the wallet address was shared on Twitter, user “Untraceable” questioned whether the SHIB market was liquid enough to “absorb $5.7 billion if this wallet sells?”

The reason behind the bullish momentum of Shiba Inu, is as a result of an increase of user access via listings on multiple crypto exchanges. This and the launch of the Shiba Inu’s own NFT project dubbed “Shiboshi’s,” have contributed to the bullish stance of the price of the meme coin.

The wallet address can be viewed on Etherscan with address: 0x1406899696aDb2fA7a95eA68E80D4f9C82FCDeDd.

Although there is a rally in the meme coin industry, investors are advised to invest with extreme caution as these coins are very volatile and could result in the total loss of an investor’s portfolio.

The token hit an all-time high of $0.00008845, just 5 hours ago but its however down 25% from that price, as it currently trades $0.00006412 as of the time of this writing.

SOURCE:https://brandspurng.com/2021/10/28/shiba-holder-who-bought-8000-worth-of-shib-last-august-now-worth-5-7-billion/

That's just on paper. If he attempts to sell, he will struggle to get even 1% of that valuation

einsteine:
That's just on paper. If he attempts to sell, he will struggle to get even 1% of that valuation

While you are right in a way, he can actually sell even all his portfolios without much hesitation.

No be magic though , this is it: I believe the owner of that address is no newbie to attempt putting up a sell order of all that at once. As an expert, he will disperse his assets to multiple trusted exchanges trading Shiba( of course each exchange with different trading volumes and in different pairs as well)and then, that would be all. He/She, as a seasoned trader, will put up bit by bit percentage sell on the order book of those exchanges and in different trading pairs; not at once but at intervals; this way, he can actually get away with that valuation.

Godshand21:


While you are right in a way, he can actually sell even all his portfolios without much hesitation.

No be magic though , this is it: I believe the owner of that address is no newbie to attempt putting up a sell order of all that at once. As an expert, he will disperse his assets to multiple trusted exchanges trading Shiba( of course each exchange with different trading volumes and in different pairs as well)and then, that would be all. He/She, as a seasoned trader, will put up bit by bit percentage sell on the order book of those exchanges and in different trading pairs; not at once but at intervals; this way, he can actually get away with that valuation.

The order book across all exchanges cannot absorb even 100 million in a day. That money has to come from somewhere. That means there has to be people willing to buy SHIB with an aggregate value of over 1 billion to absorb all the tokens.

That's aside the signal that would come when most people hear that a big holder is selling and there will be massive selling too.

In conclusion, that money may be billions on paper but given the volume available, it is highly unlikely that he can realize gains.

What's the maximum price it can get to?

It reminded me a lot of Dogecoin that used to be a meme as well. It proves once again that even something totally unexpected can blow out one day, and I think it's cool that you never know what can actually be lucrative in the future. Well, right now, I just randomly buy tokens from projects like myimpactpower because I know that at least something will grow in price a lot, and I feel like the chances are pretty high since the perspective of everything to work out the way I want it to is really good.