A $272 Investment in BSHIB Gained 53,576% for A Trader, Details
Despite its high volatility, cryptocurrency comes with huge opportunities through explosive gains. The Data Nerd, a crypto surveillance resource, has revealed an investor who made it big with Based Shiba Inu (BSHIB).
The investor recorded a 53,576% increase from just $272 in BSHIB. There have been several similar cases of explosive gains in the crypto space.
A Trader Leveraged $272 to Accumulate A 53,576% Growth with BSHIBData Nerd's April 8 X post shows that an investor invested about 25 days ago. Trading with a wallet address 0xeC9", he purchased about 186 million Based Shiba Inu (BSHIB) using 0.07ETH coins.
ROI - x537 from trading Meme in #Base
25 days ago, a smart money 0xeC9 just used 0.07 $ETH (~$272) to swap for 186M $BSHIB.
4 days later, he started selling 122M $BSHIB and earned $86k.
Just now, he still owns 64.2M $SHIB (~$59.3k)https://t.co/rYdEKvawUn pic.twitter.com/zPbQwzOxbv
- The Data Nerd (@OnchainDataNerd) April 8, 2024
Currently, Based Shiba Inu (BSHIB) is one of the trending meme coins within the crypto market.
According to the details, the investor held the meme coin for four days before making a move. Within four days of acquisition, the value of BSHIB saw a significant increase. This made the trader initiate a gradual sell-off of the tokens.
The on-chain report indicated that the trader sold 122 million BSHIB tokens through ten transactions. At the end of the sales, the trader accumulated $86,000 in profit from the $272 initial investment.
Moreover, the investor still has 64.2 million BSHIB in his portfolio. The remaining BSHIB tokens are worth more than $60,000 in line with the current crypto market prices.
A quick calculation of the sold and remaining BSHIB coins shows that the trader amassed $146,000 from $272. The overall investment flow reflects his 53,576% growth with just $272 in less than a month.
Similar Massive Gains with Meme Coin Investments and TradesData Nerd's report on the trader's investment pattern is not the first in the crypto industry. Similar cases of massive growth have been with just small investment amounts via smart trades and moves. Moreover, most traders use the hype and frenzy on meme coins, especially new projects, to make fortunes within a few weeks.
An impressive case involved a Solana trader who recorded a staggering 630,000% growth. He made massive gains with Dogwifhat (WIF), one of Solana's top trending meme coins.
The trader used $1,749 to buy 5.1 million WIF coins on November 30, 2023. By holding the tokens, the value increased significantly to a total of $10.9 million.
It's worth noting that the WIF trader was patient as he held the WIF tokens for more than three months. The asset's value rose within the holding period as it gained popularity in the market. Moreover, the leading global crypto exchange, Binance, listed the coin, aiding its adoption rate.
While crypto investments can amass huge gains for investors, they could lose part or all of their funds through such moves. A prominent investor, Edward Morra, disclosed a 98% loss in his quest to make $1million from $1K. The tragedy occurred within 53 days of his trading moves as his money plummeted to $2.54.
Some people are skeptical about the success stories of explosive profits from meme coins. They believe most traders in such tales are insiders in the meme coin projects.
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