Cryptocurrencies possess the capacity to generate substantial wealth for individuals who make wise investments. The emergence of the Shiba Inu [SHIB] ecosystem resulted in the creation of numerous millionaires shortly after its introduction. Those who enthusiastically embraced the initial hype surrounding this meme coin found themselves among the ranks of millionaires.
As of August 2021, two blue-collar workers managed to capitalize on the opportunity and amass substantial wealth by investing in Shiba Inu in 2020. The success stories of a warehouse manager and a truck driver served as an inspiration and brought hope to many other working-class individuals.
Warehouse manager’s $8K investment booms to a million in six months
After investing $8,000 in Shiba Inu, a warehouse worker made a daring move that led to early retirement at the age of 35. The risky investment paid off handsomely, turning the individual into a millionaire in six months. The skyrocketing price of the meme coin, which surged by over 700,000 percent in 2021, played a significant role in this remarkable financial transformation for the husband and father.
Following this, the warehouse manager decided to sell $500,000 worth of his holdings. He did so while retaining the remaining half of the SHIB tokens in his portfolio. In October 2021 when Shiba Inu experienced a 1,000% surge, the remaining tokens helped him reach a million-dollar milestone. As a result of his newfound financial success, the warehouse manager chose to retire at the age of 35 by quitting his job.
Additionally, his curiosity in Shiba Inu was piqued when he read the cryptocurrency’s “woofpaper” white paper. The woofpaper, authored by Shiba Inu’s pseudonymous creator Ryoshi in August 2020, outlines the coin’s utilization of the Ethereum network to function as both a currency and a decentralized platform for technologies such as smart contracts. He said,
“After reading that, I was hooked. I just believed the words. I come from quite a poor background. could never have even fantasized about having this much money.”
Shiba Inu turns truck driver into a millionaire
In May 2021, a truck driver made the life-changing decision to resign from his job. This, however, was made after earning $1.7 million from his investment in Shiba Inu. Originally, the driver had purchased SHIB tokens in 2020 with a mere $670 investment. Within less than a year, from 2020 to 2021, his fortune grew exponentially, enabling him to realize his financial aspirations and embark on a new chapter in life by leaving his job.
On Twitter, a user with the handle @AustinT_BC recounted the tale of one of his drivers who decided to resign from their job. This was after an extraordinary financial gain from their investment in the meme coin. The Twitter user wrote,
“One of my drivers quit because he made $1.7M in crypto on a $670 investment. Good guy, has kids. Doesn’t matter, that’ll still infuriate the bankers and lawyers slaving away for $500k a year.”
Sadly, the meme coin isn’t giving rise to any millionaires anymore. The asset has been witnessing a downtrend since 2022. At press time, SHIB was trading for $0.000007321 with a 3.21% daily drop. In addition, about 85% of the asset’s holders have been drowning in losses.