A trader claims to have made over $2 million in profits in Shiba Inu (SHIB) and Dogecoin (DOGE) and could have made millions more if he hadn’t cashed in so soon. The mysterious trader says the life-changing profits from trading cryptocurrencies mean he is able to buy a house while the price of both continues to rise. This interesting story Cryptocoin. com for our readers.
Won from SHIB and DOGE, deposited at home
The trader explains that the Shiba Inu (SHIB) has been on his nerves as the price has remained stable during what he calls the “winter months”. He then says that on top of the $1 million profit he made from Dogecoin earlier this year, he made another $1.1 million after selling last month.
Shiba Inu is one of the most popular cryptocurrencies whose price has risen rapidly since its beginning in 2020. However, cryptocurrencies are extremely volatile and investing can be incredibly risky. Unlike other types of investments, crypto is not regulated, so you could be unprotected if things go wrong.
Another major concern for anyone considering crypto is that there is no guarantee that you will be able to cash out your assets when you need them. Trading fees and costs can also be much higher than other investments.
Writing on a Reddit forum, the trader said that he sold the last of a total of 42 billion Shiba Inu (SHIB) about six days ago, for a total of $1.5 million. Since then, the value has continued to rise, and selling the same investment today yields around $3 million. Trader made the following statement:
It would be greedy to expect more, I was looking to buy a house and basically got one for free. Earlier this year I made a million with Doge and if I had waited one more day it would have been 7 million. I was stunned, but looking back now, I’m more happy that I have money than sad that I don’t have any more money. I’m sure I’ll be stunned when SHIB hits crazy numbers but hey!
Ups and downs
Two contrasting stories recently showed the volatility of investing in a Shiba Inu (SHIB). It was reported that a trader bought 5,800 pounds worth of crypto last August and is now worth 4 billion pounds. The mysterious crypto billionaire bought a massive 70 trillion coin shortly after the currency was created 14 months ago, according to crypto wallets. According to Etherscan, the anonymous investor started trading on August 1, 2020, by purchasing approximately 70 billion Shiba Inu (SHIB) cryptocurrencies in just one day.
On the other hand, another Reddit user claimed that he convinced his aunt to deposit $200,000 in Shiba Inu (SHIB) cryptocurrency and lost tens of thousands of dollars in just 24 hours. The anonymous account says she was inspired by her 47-year-old aunt bragging about the wealth she made before investing her savings in breast money.
