Shiba Inu experienced a meteoric rise from its launch in August 2020 to its all-time high in October 2021. In the span of just 14 months, SHIB exploded more than 17 million percent.
This token alone was responsible for creating hundreds of crypto millionaires overnight. It even propelled an unknown investor to become possibly the first crypto billionaire.
According to Etherscan data, one savvy investor began buying Shiba Inu on August 19, 2020, the same day that the token launched on several centralized crypto exchanges. The investor made purchases in increments of several thousand dollars over the next week, eventually converting about $7,850 worth of ETH into SHIB.
That netted this investor, whose wallet has been active since April 2018, around 70 billion SHIB.
In the spring of 2021, as Elon Musk touted Dogecoin and the price of SHIB skyrocketed to a high of $0.00005 in May, this mystery investor began selling. Transactions in their wallet show they cashed out $25.3 million worth of SHIB in February and another $252.9 million in March.
Despite this selling, the investor still sat on a massive trove of SHIB tokens. They held onto that stockpile until November 2021, having slightly missed the token’s peak price of $0.00008845 in October.
Still, the investor was able to sell their SHIB for an additional $168.5 million over two transactions.
The investor still holds around 200 billion SHIB, valued at $1.67 billion.
While it may be too late for the likes of established meme coins like Shiba Inu see this kind of growth again, let’s now take a look at two new high-risk tokens that some traders are hoping to see big gains in the near future.
Wall Street Memes potential IEO rumored for next month after raising $25m
One of the most interesting new meme coins is Wall Street Memes. This project has raised more than $25 million during its crypto presale and the team has plansto list on multiple Tier-1 crypto exchanges.
The project has a following of more than 260,000 Twitter followers, with a one-million strong community over all social platforms. One of the tweets also attracted the attention of Elon Musk, who helped turn Dogecoin and Shiba Inu into the meme behemoths they became in 2021.
Wall Street Memes also has the backing of the r/WallStreetBets community, which demonstrated its financial power during the GameStop short squeeze of 2021. The project’s memes perfectly align with the r/WallStreetBets community’s disdain for the greed of Wall Street.
Crypto analyst Jacob Bury noted a solid WSM presale success in his video.
The presale is now in its final stage and the team states the token will be listed in just 4 weeks.
Sonik Coin raises $700,000 as it aims for $100M market cap and 25x return
Another up-and-coming meme coin is Sonik, a meme coin based around the popular Sonic The Hedgehog character first introduced by Sega in 1991.
Sonic The Hedgehog is a childhood staple for anyone who grew up in the 1990s. The character starred in multiple video games and movies, so it seems only fitting that Sonic is now the theme of a meme coin. The Sonik project isn’t affiliated with the Sonic brand or Sega, but the reference is clear.
Sonik stands out from meme coins like Shiba Inu in that it’s more than just a joke. This token also offers some utility for investors in the form of staking. The project team states that early investors in the SONIK coin will be able to stake their tokens and earn additional SONIK.
This would incentivize token holders to lock up SONIK for the long tem, supporting the value of the token and increasing demand. 40% of the total SONIK token supply is said to be set aside for staking rewards, with a promise to pay rewards to investors for years to come.
Sonik has showed some successsince launching its presale, raising more than $700,000 out of its $2 million hard cap. The project’s stated goal is to become the fastest meme coin to reach a $100 million market cap.
The SONIK presale is now almost 40% sold out.