Shiba Inu (SHIB) Token Holder Exchanges $23,000 for Mollars ICO — DCA’ing, King Shrimp Surpasses Whales
A crypto enthusiast, affectionately known as the King shrimp, who was previously monitored by Crypto.News, has increased their holdings of the Mollars token presale. By consistently buying or dollar-cost averaging into the presale, this trader has become the largest holder of the upcoming store-of-value token on the Ethereum blockchain.
The public wallet transaction address of the buyer can be found [here] and the last activity was observed 11 days ago.
The investor has demonstrated success in investing in meme-based coins. They have engaged in transactions involving Shiba Inu (SHIB), Volt Inu (VOLT), and Robo Inu (ROBO). While the regular purchases of Mollars surpass all other investments made this year, it is believed that this holder is also a significant holder of Shiba Inu tokens, possibly from the token’s golden era.
Investments in the Mollars token presale may not have attracted attention from observers monitoring the presale’s transaction addresses. The largest single purchase made by the King Shrimp was for 1.06 ETH, which is not the largest individual purchase made by an investor. However, when making 12 purchases of this magnitude, the numbers quickly accumulate.
The total value of these 12 purchases in Ethereum coin amounts to 7.974272038 ETH, which is approximately $23,080.73 at the time of writing.
It is estimated that the $23,000 investment resulted in the acquisition of around 57,700 Mollars tokens. These investments were likely made between the first and third rounds of the ICO, with an average token price of around $0.40.
The Mollars token is set to be listed on at least two cryptocurrency exchanges, Bitmart and LBank, on or around June 1st. If the Initial Coin Offering reaches its maximum hard cap, the token will be listed at a price of $0.62 per token.
Listing Day Potential: $12.6k Profit for Investors
On the day of listing at $0.62 per token, the King Shrimp’s investment value is expected to rise from $23,080.70 to $35,775.09 on June 2nd, provided the hard cap is met.
The value of the token is projected to continue increasing from there, with some predictions suggesting that the Mollars token could reach approximately $15 before the end of the year. If its popularity continues to grow at a similar pace after listing day, the potential for higher gains is even greater.
The King Shrimp’s decision appears to have been a valuable one, with a potential profit of $12,695 on the horizon.
The hard cap for the Mollars ICO is 4 million tokens, and the total token supply for the cryptocurrency is set at 10 million tokens. Only 40% of the total token supply was allocated for the presale, with a significant portion being utilized for project development and the growth of its branding value.
The migration of a substantial amount of funds from Shiba Inu to Mollars by the King Shrimp may indicate that this experienced investor expects the Mollars token to experience significantly higher growth than SHIB in 2024.
So far, the Mollars token presale has raised $1.31 million in funding. This holder with $23,000 is believed to be the largest holder of this new store-of-value token before its listing.
While the Shiba Inu token has provided investors with a gain of +168% this year, most holders are still at a loss in 2024. The gains in the last few months have only been +6.6%, which is lower than the anticipated gains on the day of listing for Mollars. Traders who are quick to adapt can foresee the potential of the new store-of-value token, which is positioned to rival Bitcoin and generate higher gains than Shiba Inu (SHIB) in the near future.
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