Trader turns $3,800 investment in SHIB into over $6M

Meme coins like Shiba Inu (CRYPTO:SHIB) continue to showcase both explosive growth and significant risks for traders.

Recently, Lookonchain revealed the story of a whale who made an exceptional profit from SHIB, turning a $3,800 investment into over $6 million.

This individual had purchased more than 15 trillion SHIB tokens in the summer of 2020, and recently sold 250 billion tokens for over $6 million.

They still hold 2.15 trillion tokens, worth approximately $52 million at current rates.

Another notable case involved a trader who spent $2,500 on nearly 50 billion SHIB tokens in 2021.

After 30 months of staking, they withdrew 40.5 billion tokens and deposited them into Coinbase.

If they had sold the tokens at the time, they could have made a profit of $1.58 million, resulting in a 628x return on investment.

Shiba Inu is not the only meme coin generating impressive profits.

One trader bought 170.2 billion PEPE (CRYPTO:PEPE) coins in late October 2023 and sold them for nearly $2 million earlier this year, achieving an 886% return on investment.

Another individual made a $1.52 million profit after purchasing 416.8 million Cat in a Dogs World (CRYPTO:MEW) tokens for $2.42 million in July and later selling them for 16,270 SOL (CRYPTO:SOL).

At the time of reporting, the price of Shiba Inu (SHIB) was $0.00002137.