Shiba Inu: 'Meme' Trader Turns $30K Investment Into $450K
There are multiple crypto-related success stories. The advent of meme coins like Shiba Inu [SHIB] birthed several millionaires during its initial days. While becoming a millionaire is quite difficult considering the lethargic price of SHIB, pocketing profits is still isn’t out of the picture.
An address identified as “Meme Lord” had a tremendous increase in its investment portfolio over a three-year period, according to data from OnChainDataNerd. The trader’s notable successes can be attributed to investments made in three specific projects, Shiba Inu, Pepe Coin, and TSUKA. The Meme Lord’s investments turned out to be quite profitable, generating significant returns and assisting in the gradual expansion of its initial investment.
The trader decided to invest $2,500 in Shiba Inu using Ethereum [ETH] in March 2021. The trader decided to sell their investment at SHIB’s peak in May after spotting a profitable chance. Meme Lord was able to make an astounding profit of $60,000, or 22 times their initial investment.
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— The Data Nerd (@OnchainDataNerd) May 28, 2023
It is also an early buyer of $PEPE, with the first bought on Apr 17th.
It took a mild profit on May 5th after the Binance listing, with 14B still in the wallet.
Profit: 14x
Gain: $70K pic.twitter.com/4A3wbfWetD
Similarly, on April 17, the trader started selling PEPE. The token was listed on Binance on May 5. The trader viewed this as a good opportunity to reap some gains. The trader made a profit of $70,000, or 14 times their initial investment, by hanging onto 14 billion PEPE tokens.
Meme Lord’s biggest profits weren’t from Shiba Inu or Pepe Coin
The trader’s most significant gain came from their investment in TSUKA. This commenced in May 2022 with a $300 USDC purchase. This particular investment proved to be immensely profitable, as it generated an impressive return of 1000x from the initial investment. The trader’s sharp decision to invest in TSUKA resulted in a remarkable gain of $250,000.
It is worth mentioning that the Meme Lord has already chosen to withdraw a portion of their funds. While this trader sits on quite some profit, it is important to invest in crypto assets following a substantial amount of research.
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