The cryptocurrency market is famous for its volatility that can sometimes play highly nice for traders and sometimes against them. But the past year has been nothing but a spike for the crypto industry, leading to insanely huge investment profits on small altcoins like Shiba.
Shiba Inu (SHIBA):
Shiba was the currency of October because of a 1000 percent increase in its price when it reached its highest on the 29th of October. According to the Watcher Guru, the $1,000 invested in SHIBA is now worth a staggering $756 million.
In the past year, the SHIB was approximately $0.000000000072; even the most minor investment of 1 dollar could have given someone one million dollars of profit.
Shiba’s most closely related coin and rival that has been around since 2013 and through several bear and bull cycles with various outcomes is Dogecoin.
If one had invested just $1,000 in DOGE just a year ago, It would be worth more than $92,000. Such a return is nowhere near SHIB’s performance but still pretty excellent compared to the gains on stock trading.
Memcoins tend to be driven by social and community sentiments but, in the case of Solana, technology, use cases, and proper structural growth are the main motivations behind the 13600% annual return on the investment. A sum of $1000 invested in Solana one year ago would now be approximately $130,000.