A crypto investor recounts how he missed a golden opportunity with Shiba Inu by selling his holdings too soon.
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Earlier this week, crypto users took to X to share their biggest regret in the crypto space. Some narrated how they missed a chance to buy a particular asset when it was at a lower price. Others recounted how they sold their crypto holdings too early before the major pump.
User Sells 2.1% SHIB Supply Early
Crypto investor Rick Primes shared how he sold a substantial volume of Shiba Inu too soon. The early SHIB investor claimed he initially held 2.1% of Shiba Inu’s supply at one point.
Since Shiba Inu originally launched with a total supply of 1 quadrillion tokens, this 2.1% would have equated to 21 trillion SHIB. Based on the current supply of 589 trillion tokens, this would now represent around 11 trillion SHIB. However, the investor did not disclose the exact figure he held.
Meanwhile, Primes sold this large stake before Shiba Inu’s massive rally in 2021. After his initial sale, he returned and acquired more SHIB tokens.
At that time, Primes said he accumulated 0.8% of the total SHIB supply. However, he eventually sold those tokens again, for roughly $20 to $30 million.
Soon after, he watched the price of Shiba Inu skyrocket, eliminating any realistic chance of buying back in.
Reflecting on the 2.1% stake he sold too early, Primes claimed the holding would have been worth around $882 million at the “omega top,” Shiba Inu’s all-time peak.
Notably, Shiba Inu reached a peak price of $0.00008845 on October 28, 2021. Many investors reported life-changing gains from SHIB, including some who claimed to have become billionaires.
Shiba Inu Early Days
Shiba Inu, which was once dismissed as just another meme coin, stunned the broader crypto market with its jaw-dropping rally in the 2020/2021 cycle. Having launched at an initial price of $0.000000000056, Shiba Inu succeeded in eliminating six leading zeros and spiked to an all-time high of $0.00008845 within 14 months.
Before this rally, Shiba Inu tested investors’ patience. By late 2020, it often seemed as though the development team had vanished. During this period, most investors liquidated their holdings, while a few remained patient.
Things started turning around in early 2021 when several major crypto exchanges, including Binance, listed SHIB on their platforms. In May 2021, Shiba Inu’s pseudonymous founder, Ryoshi, drew attention to the project by gifting half of SHIB’s total supply (500 trillion tokens) to Ethereum co-founder Vitalik Buterin.
Shortly after receiving the tokens, Buterin burned over 410 trillion SHIB by sending them to a dead wallet and donated the remainder to charity. This move cleared the path for Shiba Inu’s subsequent surge to its peak.
Although Primes missed out on a potential ten-figure fortune, he still managed to earn up to $30 million from his second SHIB sale. Many others didn’t get the opportunity to earn substantially from SHIB after selling early.
Yet, a handful of other early SHIB investors also raked in millions of dollars from Shiba Inu. A case in point was two brothers from New York who saw their small investment of $7,900 balloon into $9 million.
DisClamier:
This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect @Lachakari_Crypto opinion. Readers are encouraged to do thorough research before making any investment decisions. @Lachakari_Crypto is not responsible for any financial losses.