The myth of sudden wealth: I spent more than 2,000 US dollars to buy Shiba Inu coins 3 years ago. Now it has skyrocketed 419 times, making a profit of 1.1 million US dollars.

In the currency circle, many people hope that the "myth of sudden wealth" will happen to them. Recently, an investor in Shiba Inu Coin (SHIB) spent 3 years. Successfully turned a small investment into a huge fortune worth millions of dollars.

Data on the chain shows that this investor spent 2 Ethereum coins (approximately US$2,625) to buy 48.09 billion Shiba Inu coins on February 1, 2021. After holding it for about three and a half years, In the early morning of today (28th), it was all sold at a price of 278.7 Ethereum coins (USD 1.1 million), which is equivalent to a profit of 419 times.

Shiba Inu Coin (SHIB) was first launched in August 2020 and is known as a “Dogecoin alternative” and “copycat version of Dogecoin”. Now The market value has grown to US$15.2 billion, and the circulating supply has reached 589.3 trillion coins, making it the 12th largest cryptocurrency.

As of writing, Shiba Inu Coin is trading at $0.00002497, up 1.7% in the past 24 hours.

Although many analysts believe that Shiba Inu Coin will gradually disappear and then return to zero as the craze of Meme coins subsides, it is undeniable that Shiba Inu Coin has become an evolving project. Just last month, the project team raised $12 million through token sales and plans to use the funds for the upcoming digital asset TREAT to provide utility and governance functions for the new Layer 3 network.

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