Between January and October 2021, SHIB posted one of the most explosive returns in crypto history, surging by more than 100,000% at its peak. Those who entered early and held their positions during this parabolic phase were able to turn mere hundreds of dollars into millions. The frenzy reached its climax when Shiba Inu temporarily entered the top 10 cryptocurrencies by market cap.
Among those who allegedly invested early is a social media user that goes by the name Rick Primes on X. His interesting revelation regarding Shiba Inu was made in response to another trader recalling his own costly misstep with PEPE by selling his own 3% of the total PEPE supply very early for just $100,000.
The pain lies not in that gain he made, but in what could have been. Had he held the full 2.1% supply through to Shiba Inu’s all-time high price of $0.00008616 in October 2021, the value would have reached as high as $882 million.
At the time of writing, SHIB is trading at $0.00001335, which is an increase of about 16.3% in the past seven days. However, the meme coin could have a tough time breaking above a strong resistance around $0.0000135, where it was rejected in June.
Featured image from Unsplash, chart from TradingView
