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One crypto investor has stunned many with the revelation of a once-in-a-lifetime missed opportunity with Shiba Inu. The investor, who goes by the name Rick Primes on the social media platform X, shared that he once held a staggering 2.1% of the total Shiba Inu (SHIB) supply, only to exit the market far too early and fumble a potential $882 million bag during Shiba Inu’s price peak.

Early Shiba Inu Investor Loses Out On Massive Bag

Shiba Inu’s journey from obscure meme coin to the most popular meme coin is one of the most well-known stories from the 2021 bull market. Although Shiba Inu was created as a funny response to Dogecoin, the most popular meme coin at the time, it eventually gathered an enormous community on the internet and attracted billions in investment capital. 

Between January and October 2021, SHIB posted one of the most explosive returns in crypto history, surging by more than 100,000% at its peak. Those who entered early and held their positions during this parabolic phase were able to turn mere hundreds of dollars into millions. The frenzy reached its climax when Shiba Inu temporarily entered the top 10 cryptocurrencies by market cap.

Among those who allegedly invested early is a social media user that goes by the name Rick Primes on X. His interesting revelation regarding Shiba Inu was made in response to another trader recalling his own costly misstep with PEPE by selling his own 3% of the total PEPE supply very early for just $100,000.

Rick Primes recalled his story as part of a broader discussion thread asking users to recount their worst fumbles in the crypto market. According to him, he initially owned 2.1% of Shiba Inu’s total supply during the early stages of the token’s launch. However, he ended up selling that position long before SHIB began its crazy ascent. After liquidating the initial holding, he reentered the market to hold about 0.8% of the supply and later exited again for a modest profit in the range of $20 million to $30 million. 

The pain lies not in that gain he made, but in what could have been. Had he held the full 2.1% supply through to Shiba Inu’s all-time high price of $0.00008616 in October 2021, the value would have reached as high as $882 million.

Shiba Inu Price Today

Save for a few spikes here and there, the meme coin niche has been relatively quiet this cycle. Although the current market cycle is less euphoric than the 2021 run, Shiba Inu and its investor community still have a strong presence in the crypto industry.

At the time of writing, SHIB is trading at $0.00001335, which is an increase of about 16.3% in the past seven days. However, the meme coin could have a tough time breaking above a strong resistance around $0.0000135, where it was rejected in June.

Featured image from Unsplash, chart from TradingView

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FTX bankruptcy liquidators sold its stake in the artificial intelligence (AI) coding platform Cursor for $200,000, missing a potential $500 million windfall, according to recent reports.

According to a new report from the Financial Times, Cursor – developed by Anysphere Inc. – has secured $900 million in funding at a $9 billion valuation since being sold off by FTX, with backing from prominent venture capitalist firms.

Cursor AI is a smart coding assistant that aims to enhance software development by incorporating natural language programming, advanced code suggestions, and built-in debugging. Based on a modified version of Visual Studio Code, it aims to provide deep code analysis, interactive chat support, and automated tools to help developers efficiently write, refine, and optimize their code.

The company reportedly generates more than $200 million in annual recurring revenue.

The stake originated from FTX’s trading arm, Alameda Research, which invested $200,000 in Cursor’s seed round in 2022. Liquidators sold the investment at cost, failing to anticipate the platform’s growth potential.

The sale represents another undervalued asset sale by FTX liquidators, who previously sold SUI blockchain contracts for $1 million that later reached a $3 billion valuation.

The estate continues liquidating holdings to repay customers affected by the exchange’s collapse, though the miscalculations have hampered recovery efforts.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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