Shiba Inu (SHIB) has become so famous and popular that at one point it surpassed even Dogecoin in terms of market capitalization. This meme has changed the lives of many individuals, including two brothers who are unemployed and struggling financially. Their life got better after they invested $8,000 in SHIB.
Tommy and James, two brothers aged 38 and 42, previously had jobs as wedding videographers but due to the Covid-19 pandemic they were unemployed. The two brothers’ lives changed when a friend suggested they invest in SHIB.
Initially, Tommy and James only invested 400 USD in SHIB with a relaxed mentality and willingness to lose money.
“I knew about Bitcoin, it used to be very low price but now it is worth tens of thousands of dollars and I believe a breakout is possible for any cryptocurrency. I trusted my friend when I bought SHIB and I thought it would be fine if it went to zero. I invest in SHIB like buying a lottery ticket, I am willing to lose money,” Tommy said.
Within a week of their initial investment, the brothers began to see their investment grow significantly. Their initial $400 investment in Shiba Inu quickly turned into $1,200. Realizing the growth potential of SHIB, they decided to invest more by convincing family members to buy SHIB.
Although initially skeptical, the brothers’ mother and sister decided to invest in SHIB with $100 each. When their mother and sister witnessed the ‘storm’ of SHIB, they were even more convinced and decided to invest more money. In total, this family invested $8,000 in SHIB in 2020.
Fast forward to 2021
2021 is a great year for the crypto market. But for Shiba Inu , it was special. Between January and May, Shiba Inu successfully eliminated five zeros. This further leads to huge profits for those who invested early in SHIB. As a result, some investors have become millionaires.
Tommy and James were among the early investors in SHIB. They invested $8,000 in Shiba Inu, which turned into $9 million with an increase of 11,000% over a period of 8 months.
Talking about the day he became a millionaire, Tommy said:
“Oh my God. We woke up the next morning and it doubled. Our account went up to $700,000 and I told my brother it was going to hit a million. The next day, this happened. Our account reached a million dollars, at that time my mother and sister, they did not believe it was true.”
Tommy said he was very lucky to have known SHIB early on, but he does not advise people to buy SHIB at this time because the uptrend is over and investing in meme coins is always very risky.
Can Shiba Inu maintain this momentum?
Obviously not. This meme did not achieve significant gains, despite its wide adoption.
Although it hit an all-time high of $0.00008845 in October 2021, since then, the coin has been on a downward trend. At the time of writing, SHIB is trading for $0.000008888. It should be noted that the SHIB is nearly 90% below its all-time high.
*This article is for reference only and should not be considered as an investment recommendation*