While the ongoing volatile crypto market is destroying entire portfolios, Shiba Inu, an early backer of memecoin, is still counting his blessings despite the brutal decline. Investors who took a chance on the fledgling token in its first year have managed to remain billionaires despite SHIB currently trading 89% below its all-time high.
Shiba Inu: $1000 investment in SHIB turned into $9 million
Data from Changelly shows that a hypothetical investment of just $1,000 made in August 2020, just before the release of the previously unknown Shiba Inu, is now worth a staggering $9 million. ing. This equates to a return on investment of 907,599.52% over three and a half years.
These huge profits propelled SHIB into a billionaire-producing behemoth in 2021's gravity-defying bull market. Early backers managed to hit a liquidity bonanza, something that is rarely seen with a single crypto asset.
Also read: Shiba Inu: What will be the yield on a $1,000 SHIB investment in 2025?
There are stories of teachers, Uber drivers, and employees who managed to scrape together cash to buy SHIB tokens when they were trading for just pennies, only to find themselves sitting on piles of cash less than a year later. It's surfacing.
In late October 2021, when SHIB rose parabolically to an all-time high of $0.00008816, almost everyone liquidated some of their holdings into cash. It helped me realize life-changing money, even though I had invested a relatively small amount just a few months earlier.
Also read: Shiba Inu: Google Bard predicts SHIB price if Bitcoin reaches $500,000
Indeed, SHIB has crashed 89% from record levels, so early investors' portfolios are now worth less than they were in late 2021. But investors who held on still achieved once-in-a-lifetime returns. This significantly outpaces the rise in stocks, bonds, and even Bitcoin over the same period.
According to CoinMarketCap, as of this writing, Shiba Inu is trading at $0.00000948 with no significant movement in the past 24 hours data.
