In what can be called a tale of unfortunate events, a man invested $4,000 in Shiba Inu only to later see his portfolio balloon to $70 million in less than a year. So why didn’t he cash out $70 million and lead a life of financial freedom with SHIB? Well, let’s find out!
So, the story goes that a man in Dubai took an early entry position in Shiba Inu just weeks after its launch in August 2020. He invested $4,000 just to test the waters as SHIB was an obscure and novice token back then.
Also Read: Shiba Inu: Millions of Bitcoin Profits Set to Flow Into SHIB
The investor accumulated 5 trillion SHIB tokens for $4,000 as it was trading with nine ‘zeroes’ during that time. However, to his bad luck, SHIB began plummeting between September to December 2020 adding an extra ‘zero’ in the indices.
Fearing that his $4,000 could plummet further, he waited until SHIB bounced back in price and sold all 5 trillion tokens for the same $4,000. Therefore, the investor did not make any loss or profits in his holdings despite getting into SHIB early.
Now here comes the bad news: A month after he sold 5 trillion tokens, Shiba Inu started rallying in the charts. It began deleting its ‘zeroes’ turning small investments into big money.
Also Read: Shiba Inu: Shibarium Will Start ‘Burning’ SHIB Tokens, Confirms Team
To his surprise, four months after he sold his holdings, SHIB deleted four ‘zeroes’. In 10 months, SHIB knocked out six ‘zeroes’ in the charts.
In conclusion, his $4,000 investment could have turned $70 million in October 2021 when SHIB hit an all-time high of $0.00008616. The moral of the story is that if you’re into the cryptocurrency markets, handle the way you panic and react.
Shiba Inu: Missed Fortunes of Turning Into a Millionaire
The current situation is more or less similar to the Dubai man who missed making $70 million. SHIB is on a backward momentum lately testing the patience of investors. Moreover, the lesson learned here is, that when the markets recover, you never know if the sky has a limit. Two things can happen, either you turn into a millionaire, or you simply die trying.
Also Read: Shiba Inu: $18,000 in SHIB Turns $43.7 Million in December 2023
At press time, SHIB was trading at $0.000000996 and is up nearly 2% in the 24-hours day trade. SHIB is down 89% from its all-time high of $0.00008616, which it reached in October 2021.