An address that predictably bought Shiba Inu (SHIB) worth $ 3,400 last August saw the value of the coins rise to a staggering $ 1.55 billion from today’s prices.
The unknown has bought SHIB 44 times since August 2020 – with $ 3,200 being the largest purchase at any given time – and their total portfolio of 70,200,003,107,594 SHIB is now worth $ 5.63 billion.
After the wallet address was shared on Twitter, the user “Untraceable” he asked whether the SHIB market is sufficiently liquid to “absorb $ 5.7 billion if this portfolio sells?“
According to Etherscan, the anonymous owner of SHIB is bought meme token nine times in August 2020, spending a total of $ 3,400 dollars on Wrapped Ethereum (WETH) this month.
As the price of SHIB has since risen by more than 94,278,239.8% in the last year to reach $ 0.00008094 at the time of writing, the consumer has become a crypto billionaire since his August purchases.
According to data from CoinGecko, SHIB’s total market capitalization is now worth $ 40.3 billion. The huge profit of 1.063% in the value of the asset in the last 30 days led to a shift of Dogecoin (DOGE) in the ranking.
At the time of writing, SHIB is in ninth place while DOGE is in eleventh place with a market capitalization of $ 31.6 billion.
READ MORE: What is the reason for the rise of Shiba Inu and what to expect?
Three reasons behind SHIB’s upward momentum were announced today, including increasing consumer access through listings on multiple crypto exchanges, the launch of Shiba Inu’s own NFT project called “Shiboshi’s“and the growing open interest in futures (OI) on many exchanges, including OKEx, FTX and Huobi.
