On Wednesday, he tried buying $10,000 more of SHIB as its price rapidly ascended, but tried a couple of platforms, without success. He admitted part of what he thinks drove in him and others is "the potential for such an impressive financial windfall."Īs of today, he's up more than 1,000% of his initial investment, meaning his $200 of SHIB is now worth $2,000. He pointed to an unidentified crypto wallet on the Ethereum ( ETH-USD) blockchain, whose holdings in SHIB rose from $8,000 to a staggering $4.7 billion in a little more than a year's time. ![]() Matt Kohrs, a stock and crypto YouTuber with a significant following, is a massive holder of Shiba Inu coin. We may actually be looking at the greatest individual trade of all time. This wallet bought roughly $8,000 of $SHIB last August.įrom $8,000 to $5.7 billion in roughly 400 days. “A lot of people are going to get burnt and maybe that will leave them with a sour taste for crypto,” Golberg added. Still, the other side of a skyrocketing trade like Shiba could easily spell disaster. On the one hand, Golberg suggested these “meme coins” serve as a way to get more people interested in cryptocurrency, because they’re fun and enticing. “I’m interested in cryptocurrency for the long term,” he said. Golberg, who got into cryptocurrencies in 2015, isn’t nearly as excited by Shiba Inu or Dogecoin as other retail buyers. “I’d prefer to stay away from any of that stuff,” Geoff Golberg, a crypto investor and CEO of social analytics firm, Social Forensics, told Yahoo Finance in an interview. ![]() The answer is likely to reverberate across the red-hot cryptocurrency market, increasingly popular with big and small players alike.Īccording to Bank of America data that tracks social media crypto trends, Reddit/Twitter token mentions put Shiba Inu and Dogecoin among the top 5 for October with the largest month over month change in mentions. With the emergence of a new coin based on the wildly successful Netflix's "Squid Game" series, Shiba Inu's explosive price action has sparked a debate about which of these emerging coins are legitimate investments, and which are scams.
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