From $1,000 to $1 Million, How Shiba Inu Made People Millionaires (2024)
Shiba Inu is arguably the only cryptocurrency in recent times to have made investors millionaires in less than a year. A simple $1,000 investment ballooned to over $1 million for early investors who made life-changing gains in a short period. Bitcoin, Ethereum, and the stock markets have never generated this many returns since 2020, while SHIB ruled the roost. Investors who took an entry position in 2020 and early 2021 got to taste the honey that Shiba Inu offered.
In this article, we will highlight how three middle and lower-income-class investors made more than $1 million with an investment of less than $1,000 in Shiba Inu.
Shiba Inu: From Rags to Riches, Turning the Average Man Into a Millionaire
A middle-aged truck driver in the U.S. invested $650 in SHIB in 2020 and went on with life as usual. Little did the truck driver know that his life would change forever a few months later. Shiba Inu deleted five zeros in 10 months, making the investor earn $1.7 million in May 2021. His employer announced that the driver resigned from his job after becoming a millionaire.
A 35-year-old blue-collar manager at a warehouse invested $8,000 into SHIB in 2020. To his surprise, the token spiked 70,000% post-investment, bringing him a profit of $1 million. The manager, with two children, cashed out $500,000 first in May 2021 and kept the rest of the tokens. He later sold the rest of SHIB for over $1 million in October of the same year.
Two brothers from New York who lost their jobs during the COVID-19 lockdowns in 2020 combined to put $7,900 in SHIB. The brother duo cashed out $9 million in May 2021 as their investment spiked 120,000% in six months. The two now live comfortable lives without the need for a paycheck to meet their needs.
Shiba Inu was once a millionaire maker. Its huge gains since its introduction exceed the returns of almost any other investment. But Shiba Inu isn't sneaking up on anyone anymore. It's well known, and the chances of it repeating comparable gains are minimal at best.
Shiba Inu (SHIB 0.77%) minted some millionaires after its launch on Aug.1, 2020. The meme coin, which was created as a light-hearted parody of Dogecoin, started trading at just $0.000000000056 per token. Its price soared to an all-time high of $0.000086 on Oct.
Vitalik Buterin is the top Shiba Inu crypto holder. He is the one who helped co-found Ethereum and is probably one of the most influential people in cryptocurrency. One of the things he's most known for that caused an uproar about was his decision to burn a large portion of his Shiba Inu holdings back in 2021.
However, reaching $1 million with SHIB would require a much larger investment and a significant price increase. You'd need approximately 1.42 billion tokens, currently costing around $35,714.28. While a positive market swing could propel SHIB to higher prices sooner, the project's vast supply remains a hurdle.
Circling back to the $100,000 goal, at the hypothetical price of $0.0065, about 15.38 million SHIB would be needed to achieve that six-figure sum. With SHIB currently valued at $380 for that quantity, the math aligns to yield $100,000, Moving forward to the year 2040, Changelly speculates that SHIB could reach $0.02.
Thanks to a generous token gift from SHIB creator Ryoshi, Buterin holds over 500 trillion tokens—half the total supply—in a “dead wallet” he controls. This dwarfs even the largest individual SHIB investors.
Key Takeaways. There are 88,200 crypto millionaires worldwide. 40,500 of these millionaires have amassed their fortune in Bitcoin (BTC). The number of global crypto owners reached 580 million by the end of 2023, according to Crypto.com.
Right now, the price of Shiba Inu (SHIB) is $0.000022, with a marketcap of $13,161,069,108. If you had invested $100 in Shiba Inu a week ago, the amount would have become $86.64 now. If you invested $100 in Shiba Inu a year ago then then your $100 would have become $337.73 now.
The price of 1000000 Shiba Inu in the US is 18.20 USD. Additionally, Shiba Inu's price for 1000000 SHIB is 19.47 EUR in the eurozone, 23.02 GBP in the UK, 13.29 CAD in Canada, 12.09 AUD in Australia, 0.217893 INR in India, 0.013123 KRW in South Korea, and 20.39 CHF in Switzerland.
The price of 2000000 Shiba Inu in the US is 41.63 USD. Additionally, Shiba Inu's price for 2000000 SHIB is 44.58 EUR in the eurozone, 52.81 GBP in the UK, 30.31 CAD in Canada, 27.55 AUD in Australia, 0.498425 INR in India, 0.030128 KRW in South Korea, and 46.80 CHF in Switzerland.
Provided it succeeds in increasing ecosystem adoption, our Shiba Inu price prediction forecasts a maximum price of $0.000320, a minimum price of $0.000100 and an average price of $0.000140 by the end of 2030.
Harsh Notariya is a journalist and crypto expert that excels in delivering the latest Web3 and Crypto News. Previously, as a Growth Marketer at Sporty and a Community Consultant at Totality Corp, he significantly boosted community engagement and followers.
The price of 100000000 Shiba Inu in the US is 2,312.96 USD. Additionally, Shiba Inu's price for 100000000 SHIB is 2,484.30 EUR in the eurozone, 2,942.43 GBP in the UK, 1,680.69 CAD in Canada, 1,527.62 AUD in Australia, 27.69 INR in India, 1.68 KRW in South Korea, and 2,578.19 CHF in Switzerland.
Introduction: My name is Wyatt Volkman LLD, I am a handsome, rich, comfortable, lively, zealous, graceful, gifted person who loves writing and wants to share my knowledge and understanding with you.
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