- Rob invested $8,000 into Shiba Inu (SHIB) when its price was $0.000001.
- He still has over $1M worth of tokens following the price increase in October.
- The overflowing funds enabled him to quit the job which paid 68,000 annually.
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.
We believe so strongly that there is more to achieve with Shiba…I will never take out our entire portfolio.
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.
Healthcare Company Adds Shiba Inu to Its Balance Sheet
A Toronto-based healthcare company now holds Shiba Inu on its balance sheet.
Ask The Doctor, a Canadian online healthcare company, has added $1.5 million worth of Shiba Inu to its balance sheet, according to an announcement posted on its Twitter account.
Kraken facilitated the seven-figure buy. As reported by U.Today, Shiba Inu started trading on the San Francisco-based cryptocurrency exchange on Tuesday.
Ask The Doctor has added ~$1.5M USD (approx 31B $shib) to our balance sheet via Kraken.
We are 72 hours away from accepting #SHIB with our healthcare partners. pic.twitter.com/NHG17druCh— Ask The Doctor ® 🇺🇸🇨🇦 (@askthedr) December 1, 2021
The medical information website will also begin accepting the meme cryptocurrency with its healthcare partners within the next three days.
It already allows clients to pay with Dogecoin for certain services in the U.S. and Canada.
The Toronto-based company was launched in 2010, allowing its clients to connect with medical professionals via text messages or video streaming. Notably, its list of co-founders includes former NBA player Israel Idonije and former NBA star Dikembe Mutombo.
In 2016, Ask The Doctor started accepting Bitcoin payments, becoming the first healthcare company around the globe to embrace crypto.
The reason for adding the new payment option was to offer customers who share sensitive medical data more privacy.
Shiba Inu Coming to Brazil’s Largest Crypto Exchange
BBrazil’s Mercado Bitcoin is set to add support for Shiba Inu on the first day of December.
Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, has announced that Shiba Inu will become available for trading starting from Dec. 1.
The token is yet to be added to the trading platform at the time of writing.
The announcement was accompanied by a video of a Shiba Inu dog in military gear.
Uma das moedas que mais valorizaram em 2021 e que acumula um verdadeiro exército de seguidores💪😮
É isso aí! Amanhã, $SHIBA estará disponível no MB, com um histórico de valorização de mais de 18000%, até agora neste ano.
🚨 01/12 #shibarmy @shibtoken #shibainu pic.twitter.com/24HuhiBymA— Mercado Bitcoin (@MercadoBitcoin) November 30, 2021
After listing SHIB, Mercado Bitcoin will also add support for Cosmos (ATOM), Polkadot (DOT) and Loopring (LRC) later this week.
2TM, the parent company of the number one exchange in Latin America, raised another $50.3 million in late November. This occurred just months after raking in $200 million in July during a Series B investment round spearheaded by Japanese conglomerate SoftBank.
Last month, Korbit became the first cryptocurrency exchange to list Shiba Inu in South Korea.
Kraken, one of the world’s top exchanges, also added support for the top token earlier this week.
New Shiba Whale Buys $38 Million Worth of Tokens
Another whale appears on Shiba Network after token drops from local high and consolidates
New Shiba Inu whale appears on the network after purchasing $38 million worth of tokens. The whale newcomer has bought 850 billion tokens while it was losing 5% of its previously gained value.
The transaction was made 15 hours ago, while the token had just begun its correction and was trading at $0.000048. Such strong buying power, unfortunately, could not push SHIB further up and fuel the local uptrend.
With more whales entering the market, Shib’s fundamental background is continuously developing while the price on the market seems to struggle to break through the $0.000046 area.
Other whales also remain in the Shiba Inu sea by holding more than $2.3 billion worth of tokens while previously owning only about $1.8 billion. The change in the trend appeared shortly after the global cryptocurrency market correction.
Most whales have entered Shib with a large discount of 15% compared to the previous trading range. Whales have also become an absolute majority on the chain by buying up 72% of the circulating supply, which puts Shiba mostly in the hands of large wallets.
At press time, Shiba is trading at $0.000046 with 3% of the daily loss. Additionally, the token is losing 15% from its previous high of $0.000054. The token failed to continue its rally and is trading at the local support, while on-chain data suggest a rapid drop of trading volume, which indicates that traders have not yet decided the future direction of the asset’s price.