A Shiba Inu (SHIB) token holder has cashed out partially his investment in memecoin. This investment was made in February to become a stay-at-home dad.
As per Fortune report, Rob, a 35-year-old supermarket warehouse manager, invested $8,000 into Shiba Inu (SHIB) when the price of the token was roughly $0.000001. In May, when the price of token increased significantly to hit a ATH of over $0.00035. This forces Rob to cash out a portion of his holdings to deposit $500,000 into his bank account.
In addition, the SHIB holder still has over $1 million worth of tokens following the price increase in October. More so, these overflowing funds enabled him to quit the job which paid 68,000 annually. This forced him to stay at home. In addition, he also plans to HODL his remaining tokens.
Rob said,
Several Bitcoin (BTC) HODLERS, as well as the former warehouse manager, obtained millionaire or even billionaire status following the 2017 bull run.
When the project was listed last August, some token holders made similar purchases to Rob and have become billionaires. The price of Shiba Inu (SHIB) could potentially tumble if holders liquidate large quantities of tokens in the future, as it did in May.
Currently, according to CoinMarketCap, SHIB ranks eleventh in terms of market capitalization, while Dogecoin (DOGE) ranks ninth. The SHIB price is trading at $0.00005977, with a 24-hour trading volume of $11,803,566,816, at the time of writing.
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Source: Cryptocurrency - investing.com
