A $575 Investment in Shiba-Inspired Token Soars to $1.17 Million in Just 5 Days

The memecoin market continues to yield life-altering trades for adventurous investors. An anonymous wallet acquired 2.79 billion ASTEROID tokens, an Ethereum-based memecoin dubbed 'First Shiba In Space,' for $575 on April 17. The entire position was then sold for 503 ETH, worth approximately $1.17 million, according to Lookonchain, resulting in a staggering return of over 2,000x in just five days. ASTEROID is themed around a Shiba Inu drawing created by the late teenage cancer patient Liv Perrotto, who had previously volunteered with SpaceX's Polaris Dawn mission. Her design, inspired by Elon Musk's own Shiba Inu, Floki, was used as a zero-gravity indicator on the Polaris Dawn mission. Before her passing, Perrotto had expressed her desire to ask Musk if Asteroid could become SpaceX's official mascot. Following her death, Musk responded positively to the idea on social media, triggering a surge in the token's market cap from around $50,000 to over $20 million. The token's market cap has since surpassed $100 million, with over $100 million in 24-hour trading volume, briefly entering the top 200 cryptocurrencies by market cap. Currently, ASTEROID trades at $0.0004435, with a market cap of $186.5 million and $24 million in 24-hour volume, despite lacking formal endorsement or licensing from SpaceX.