Bittime - How Shibtoshi became a Shiba Inu (SHIB) billionaire with only 37 ETH capital! Read his unique journey from trader to crypto platform builder. Here's the review!
No Shibtoshi has stolen the limelight in the crypto world, thanks to its ability to turn small amounts of capital into incredible wealth. With initial capital only 37 ETH (around IDR 600 million), Shibtoshi managed to collect 104 trillion Shiba Inu coins (SHIB) which at its peak was worth more than $5.7 billion (around IDR 91.2 trillion).
Shibtoshi is quite a mysterious figure. He often operates in the shadows, keeping his identity out of the public eye. So, how exactly did Shibtoshi achieve this extraordinary success with only relatively small capital? Below is the complete journey.
Who is Shibtoshi?
Source: The Shib Daily
Shibtoshi is a crypto investor whose name soared after gaining huge wealth from meme coins Shiba Inu (SHIB). His crypto journey started in 2011, after he first heard about Bitcoin.
Initially, he was not interested in the crypto world. However, a poker game in vegas which requires him to buy Bitcoin worth $30.000 makes him addicted.
After losing the game, he went home and read whitepaper Bitcoin. The document fascinated him with the concept digital asset security which cannot be frozen by the bank.
As time goes by, Shibtoshi gets deeper into the world of crypto, in particular Bitcoin, which he trades through platforms such as LocalBitcoins And Paxful. He started transacting in a quite unique way, meeting people in cafes to buy and sell Bitcoin, sometimes using cash or bank transfers.
However, on August 2020, he turned to meme coins Shiba Inu (SHIB) after hearing the news from his friend just hours after SHIB's launch.
With 37 ETH (around Rp. 600 million), he managed to collect 104 trillion SHIB which had reached a value of more than $5.7 billion (around IDR 91 trillion) although it is difficult to cash out all the coins due to liquidity problems.
Read also: Michael Saylor's Strategy for $100K Bitcoin: Fully Bet on Future Value?
37 ETH to Raise 104 Trillion SHIB
On August 1, 2020, when Shiba Inu (SHIB) When it first launched, Shibtoshi received a message from a friend informing him of the coin's potential.
Without hesitation, it decided to buy SHIB in a way dollar-cost averaging, i.e. buying coins gradually to reduce the risk of price volatility. By using 37 ETH which at that time was worth approx $12,765 (around IDR 204 million), he collected 104 trillion SHIB.
The total value of this investment is relatively small compared to the final result. At its peak, Shibtoshi's SHIB portfolio even reached a value of more than $5.7 billion (around IDR 91.2 trillion).
However, he could not immediately sell all the coins due to major liquidity problems in the market. He realized that if he tried to sell all the coins at once, the price of SHIB would immediately fall and reduce the value of his entire portfolio.
Read also: Tomarket Airdrop: This is the Allocation of $TOMA Tokens Before Listing!
Shibtoshi Selling SHIB Tokens Gradually to Avoid Price Crashes
Owning a large number of memecoins like SHIB brings its own challenges. Shibtoshi You have to be careful when selling your coins so as not to damage the market.
As explained in an interview, if the trading volume of SHIB on one day reaches $100 million (around Rp. 1.6 trillion), he can sell his coins in small quantities without causing the price to drop sharply.
This is a very important strategy for large holders of such coins whale, that should selling gradually and only when trading volume is high.
Of course, despite his enormous success with Shiba Inu, Shibtoshi realize that the crypto world is very volatile and full of uncertainty. However, with a patient and calculated approach, he managed to turn a small amount of capital into extraordinary wealth.
From Trader to Platform Builder to Building a Crypto Ecosystem
After achieving great success in the world memecoin, Shibtoshi didn't just stop as a trader. He turned his attention to building crypto utility platform.
On 2022, he launched SquidGrow, a project that started as a meme token but later developed into multichain ecosystem which includes various crypto utilities like Incubate (NFT marketplace), SGS Trade (decentralized exchange), and Knox Locker (liquidity lock platform).
More than that, he also developed SilentSwap, A platform aggregator cross-chain which is focused on transaction privacy, use Secret Network as the basis of the technology. This project aims to provide better privacy solutions in the growing crypto world.
Read also: XRP Price Prepares to Break ATH Again: Time to Sell Now?
Conclusion
Journey Shibtoshi show that someone can change his life in the crypto world. From a trader who managed to collect trillion SHIB became a billionaire, to an entrepreneur who is now building crypto utility platform which is innovative.
For crypto investors looking to follow in Shibtoshi's footsteps, the key is patience, mature strategy, and of course, understand the risks that exist in this volatile market.
FAQ About Shiba Inu (SHIB)
What is the Highest Shiba Price?
What is the all time high price for Shiba Inu (SHIB)? The highest price for Shiba Inu (SHIB) was US$0.00008616, recorded on Oct 28, 2021 (approx. 3 years). In comparison, the current price is 65.97% lower than the all-time high.
What is the Current Price of Shiba Inu?
Shiba Inu (SHIB) price is $0.00002787 today with a 24-hour trading volume of $1,339,832,279.
How Many Shiba Inu Coins Are Left in Circulation?
The total circulation of SHIBA INU money is currently 589 trillion.
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Reference
to gasoline, Shiba Inu Whale Shibtoshi Turned 37 ETH Into $5 Billion With SHIB: Here's What Happened Next, accessed December 13, 2024.
Cointelegraph, How Shibtoshi gambled 37 ETH and became a Shiba Inu billionaire, accessed December 13, 2024.
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