An $8K Shiba Inu Investment Turned Into $5.7 Billion. But Can They Cash Out?

An $8K Shiba Inu Investment Turned Into $5.7 Billion. But Can They Cash Out?

3 years ago
Anonymous $np3LcwuhSi

https://www.vice.com/en_us/article/7kbpb9/an-dollar8k-shiba-inu-investment-turned-into-dollar57-billion-but-can-they-cash-out

In the fast-moving world of cryptocurrencies, kingdoms can rise and crumble in the space of months or days. It’s in that spirit that Shiba Inu (SHIB), a Dogecoin-inspired token, surged past its original inspiration by market cap this week, which is the total value of all tokens in circulation. 

The market for SHIB is now worth about $30 billion, with 1 SHIB going for around $0.000068, according to CoinGecko, down from its $0.00008 peak. And amid the flurry surrounding these tiny shifts, at least one major token-holder has become a multi-billionaire in SHIB, showing how concentrated markets for emerging tokens can be.