CryptoDCA data shows how a $100 monthly investment in Shiba Inu could have turned into over $38 million.
According to data from CryptoDCA, Shiba Inu investors who used the dollar-cost averaging (DCA) strategy, investing $100 monthly in SHIB during its early days, would have become multi-millionaires in three years. Â
Using the DCA strategy and investing $100 monthly, the data showed that an investor would have committed $3,600 in SHIB from September 28, 2020, to September 28, 2023.
At the time of writing, the value of this investment was worth $38,054,343 ($38.05 million). This represents an astronomical increase of 1,056,965% in the investment value.
DCA Strategy Explained
It bears mentioning that DCA is a popular trading strategy that involves regularly investing a fixed amount of money, irrespective of the asset’s price.
The DCA strategy is mostly suitable for long-term investors and not short-term traders. This type of investment can be made monthly or quarterly, depending on the investor’s preference.
However, some investors have adopted a more flexible style, only investing in the given asset when its price is lower than their initial entry point.
Famous investors like Warren Buffett and Michael Saylor have been implementing the DCA strategy. While Buffet uses DCA to invest in stocks, Saylor implements it in accumulating Bitcoin.
Earlier this month, Saylor’s MicroStrategy purchased an additional 5,445 BTC, bringing the firm’s total holdings to 0.754% of Bitcoin’s total supply.
Early Shiba Inu Investors Reap Bountifully
Meanwhile, Shiba Inu is among the top crypto assets that fetched early investors huge returns. Recall that the canine-themed cryptocurrency recorded a massive spike a year after its launch, hitting an all-time high of $0.00008616.
Following the tremendous surge, an unknown early investor made a whopping $1.5 million from a paltry investment of $17.
As reported earlier, the investment was made on October 27, 2020, a few months after Shiba Inu’s launch. The user swapped $17.53 worth of ETH for SHIB. Interestingly, the paltry investment turned to $1.5M a few months later.
Similarly, another early Shiba Inu investor cashed out a massive $5 billion from an investment of $8K.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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