Rags to Riches: Shiba Inu Made $1,000 Turn into $10 Million

Vinod Dsouza
Shiba Inu Money Gas Fees
Source: Unsplash

Shiba Inu was called the ‘money-making machine’ by investors who took an early entry position into the token. SHIB has plenty of stories from rags to riches where it turned a mere $1,000 investment into $1 million overnight. Traders who got in early into the token are now financially free as their portfolios swelled making them millionaires in a short period. No other cryptocurrency, the stock market, commodities, and even Bitcoin or Ethereum delivered this much profit between 2020 to 2021.

Also Read: SHIB: $21 Could Make You a Shiba Inu Millionaire

This puts Shiba Inu on a pedestal as it’s the only cryptocurrency that outperformed the S&P 500 index, Nasdaq, and Dow Jones by a large margin. Despite being hailed as a ‘meme currency’ SHIB defied all odds and skyrocketed in the charts during its initial days.

Shiba Inu: How $1,000 Turned Into $1 Million With SHIB

Shiba Inu Money Rich
Source: Newtraderu.com

Shiba Inu was launched on August 1, 2020, and was a relatively unknown and obscure cryptocurrency. It was trading with nine zeroes back then and an investment of $1,000 could have fetched trillions of SHIB tokens. However, the cryptocurrency kick-started a ‘zero’ deleting spree in January 2021 and knocked out six zeroes in the charts.

Also Read: Shiba Inu: SHIB Mid-June 2024 Price Prediction

For the uninitiated, Shiba Inu rallied 85,000,000% (85 million percent) between 2020 to October 2021. That’s an unbelievable yet phenomenal rise in the charts in less than 15 months. Therefore, even a simple investment of $1,000 in SHIB turned into more than $1 million by the end of 2021.

Also Read: Shiba Inu On a Path of Recovery: Could Soon Hit $0.0001, Analyst

Early SHIB investors reaped all the rewards that the token had to offer and made the most out of its bull run. Moreover, investors who took an entry position from 2022 onwards are mostly under loss as SHIB is on a downward spiral. Nonetheless, SHIB investors are confident that the token will rally again and get them to make millions of dollars. Whether their wishes will come true or not, only time will tell.