While the first half of 2024 witnessed the rallies of meme coins, in this sense, a person who invested early in Shiba Inu, which marked 2021 with Dogecoin, realized his profit.

420-fold profit

According to on-chain data, this person bought 48.1 billion Shiba Inu on January 31, 2021 for 2 WETH (about $2700 at the time). For more than 3 years, the investor who has held these SHIBs until today has made 420 times return and sold yesterday. This investor, who gained more than 47,000%, also pocketed 1.24 million dollars.

He bought SHIB instead of buying DOGE

January 2021 was a time when Dogecoin was the talk of the town, thanks to Elon Musk’s tweets. While Shiba Inu was little known to the cryptocurrency world, this token was first talked about in the summer of 2021 and rallied in October of the same year.

Ryoshi, the anonymous founder of Shiba Inu, which is known for being a coin with a lot of zeros and attracted attention in the first place, said that he aimed for the project to proceed in a decentralized manner.

Shiba Inu raised $12 million in April from several investment firms, including Polygon Ventures.

The last token of the Shiba Inu ecosystem will be TREAT, the release date of which has not yet been announced. TREAT, which will have many uses in terms of rewards, incentives and governance, will function as a layer 3 token in the ecosystem.