BOY (not real name) invested $8,000 to buy Shiba Inu (SHIB) tokens when the price was around $0.0000001. His initial holdings reached 800 billion tokens, and in May, he managed to make a profit of $500,000 on his investment.
BOY did not sell all of his holdings at that time and then experienced a significant increase in the price of SHIB in October 2021. As a result, he managed to make additional profits of up to $1 million.
The price increase of crypto tokens as described is a clear example of the potential for huge profits that can be made in the crypto market. However, it is important to remember that this market is very volatile and has high risks, so you need to be careful when investing. Taxes are also an important factor to consider when profiting from crypto investments. Always being wise in managing your investments is a smart move.
Up Five Million Percent
The increase in the price of the Shiba Inu token (SHIB) since October 2020 which reached more than 5,799,999,900% is a very significant spike and reflects the high volatility in the crypto market. Many SHIB holders who purchased this token at low prices and held onto it have seen the value of their investment grow rapidly.
Increase Real Shiba Sales
The increase in the value of the Shiba Inu token (SHIB) has resulted in increased demand for Shiba Inu dogs in the real world. In a report from Bloomberg, it was revealed that demand for Shiba Inu dogs is increasing, especially in the United States. For example, small farms like Rodel Shibas in Aspers, Pennsylvania, report that they are seeing a threefold increase in demand for their Shiba Inu dogs.
Apart from that, a report from the BBC also revealed that a Shiba Inu dog previously abandoned by its owner in China had become the highlight of an online auction and was successfully sold for around 160,000 Yuan or the equivalent of more than IDR 358 million.
The rise in popularity of the Shiba Inu, both in the form of crypto tokens and as a pet dog breed, appears to be related to increased interest in the breed as a pet or even as an investment. However, it is important to remember that owning a pet is a big responsibility, and the decision to adopt or purchase one should be considered carefully with the animal's welfare as a priority.
The cause of the rise of the Shiba
The cause of Shiba Inu's rapid increase this month is due to several things, including the solidity of the Shiba community, the emergence of a petition on Change.org for Shiba to be listed on Robinhood.
This petition has been filled with 520,000 signatures. Until now Shiba has not been registered with one of the largest brokers in the US, but Robinhood is quite open to this proposal.
Disclaimer : DYOR Not Financial Advice
