Early backers of the meme coin Shiba Inu are still reaping the rewards of their investment, despite the extreme volatility of the crypto market. Despite the fact that SHIB is currently trading 89% below its peak, those who invested in the token in its first year have managed to hold onto millionaire status. In fact, a hypothetical investment of just $1000 made in August 2020 is now worth a staggering $9 million, equating to a 907599.52% return on investment over the span of three and a half years. This has elevated SHIB into a millionaire-making juggernaut, with early backers hitting a liquidity jackpot rarely seen from single crypto assets.
The stories of ordinary people, such as teachers, Uber drivers, and employees who invested small sums in SHIB tokens when they were trading for a tiny fraction of a penny, only to find themselves sitting atop a mountain of cash less than a year later, are becoming more common. Many cashed out a portion of their holdings during SHIB’s parabolic run-up to an all-time high in late October 2021, realizing life-changing money despite having invested comparably tiny sums just months earlier. Despite the subsequent crash in SHIB’s value, early investors have still achieved once-in-a-lifetime returns that massively outstrip gains seen in traditional markets.
Although SHIB has crashed 89% from its record levels, those who have held on have still achieved noteworthy returns that greatly exceed gains seen in stocks, bonds, and even Bitcoin over the same timeframe. As of press time, Shiba Inu is trading at $0.00000948, with no major movements in the last 24 hours, according to CoinMarketCap data.