While the ongoing volatile cryptocurrency market has decimated portfolios across the board, early backers of the Shiba Inu meme are still counting their blessings despite the brutal decline. Investors who jumped at the chance to acquire the nascent token in its first year have managed to maintain millionaire status even with SHIB currently trading 89% below its peak.
Shiba Inu: A $1,000 investment in SHIB turns into $9 million
Changeli data shows that a hypothetical investment of just $1,000 made in August 2020, close to the launch of the previously unknown Shiba Inu ship, is now worth a staggering $9 million. This equates to an ROI of 907,599.52% over three and a half years.
These massive gains elevated SHIB into a millionaire-making juggernaut during its gravity-defying rally in 2021. Its early backers hit a jackpot for liquidity, the likes of which are rarely seen from individual crypto assets.
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Stories have emerged of teachers, Uber drivers, and employees who managed to scrape together some cash to buy SHIB tokens when they were trading for a fraction of a penny, only to find themselves sitting on top of a mountain of cash less than a year later.
Almost all of them cashed out a portion of their holdings when SHIB continued its parabolic rise to an all-time high of $0.00008816 in late October 2021. This helped them make life-changing money despite investing relatively small amounts just months before.
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To be sure, with SHIB collapsing 89% from those record levels, the portfolios of early investors are not nearly worth what they were today in late 2021. However, those who have held on are still generating once-in-a-lifetime returns. Which significantly outweighs the gains seen in stocks, bonds, and even Bitcoin over the same time frame.
As of press time, the Shiba Inu is trading at $0.00000948, with no major movements in the past 24 hours, according to CoinMarketCap data.