Lookonchain, a crypto-tracking service, has revealed that in 2021 a trade was made involving Shiba Inu memecoin (SHIBThe, which has a market capitalization of over $600 million, has been moved to the top US crypto exchange Coinbase.
Lookonchain notes The trader spent 1,51 Ethereum (ETH(valued at $2,521 when the trade took place) to purchase billions of SHIB. These SHIB then rose to a price of $1.93m only a couple of years later.
“After 2.6 years of staking, he withdrew all 40.5 billion SHIB ($1.58 million) and deposited it into Coinbase [early Tuesday]. If he sells, he will make ~$1.58 million, a gain of 628x!”
SHIB currently trades for $0.0000318, down over 3% from the previous 24 hours.
Lookonchain notices A trader who bought the Solana made $5.2 Million in profit.SOLDogwifhat is a memecoin based on the )-based dogwifhat (WIF).
“This trader spent 6,996 SOL ($909,000) to buy 534,956 WIF at $1.70 again [Monday]. And he has spent 20,996 SOL ($2.45 million) to buy 4.53 million WIF since February 16th and the current unrealized profit is ~$5.2 million.”
WIF is currently trading at $1.41. This represents a nearly 2% increase in the last 24-hours.
Memecoin’s sector is a big winner in the crypto-space soared Bitcoin reached its highest value since November 20, 2021, when it traded above $69,000. Pepe, among other memecoins (PEPEBonk (BONKDouble-digit gains are possible.
Bitcoin is currently trading at $63,925, a 4.4% drop in the past 24 hours.
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Source: dailyhodl.com