One trucker made a fortune in the past bull cycle after a $650 investment in Shiba Inu (SHIB) returned $1.7 million.
Stories of grass to grace might prove difficult to believe unless there is solid evidence or account to show. This is the story of one trucker who placed an early bet on Shiba Inu, right after it made its emergence in 2020.
Though the memecoin which aims to outrank Dogecoin (DOGE) at the time made a lot of people millionaires, the transformation of this trucker underscores crypto’s financial inclusivity.
How $650 Turned to $1.7M
According to the account of this trucker, as told by his employer, he invested $650 in Shiba Inu when the price was $0.00000000051. This bet at the time gave him an equivalent of trillions worth of SHIB which he HODLed.
Fortune smiled on him as the memecoin mania swept him in the last bull market cycle, sending SHIB up by over 45 million percent. This insane growth pushed the value of the trucker’s portfolio to $1.7 million, handing him an early retirement.
“One of my drivers quit because he made $1.7M in crypto on a $670 investment. Good guy, has kids. Doesn’t matter, that’ll still infuriate the bankers and lawyers slaving away for $500k a year,” the trucker’s employer said in a post on X.
While this investor got lucky, the low volatility of Shiba Inu now casts doubt on the prospects of achieving such a massive price surge moving forward.
Are the Figures Real?
The emergence of crypto showcased how possible, and sometimes, how easily the core tenets of the financial world could be disrupted.
Insane price surges are possible in the industry as we have also seen with Bitcoin (BTC) whose value has soared since its listed price of $65 as of June 14, 2010, per data from CoinMarketCap.
An insane growth in the portfolio was also recorded by a memecoin trader who invested just $42 in a Solana memecoin SILLY and raked in over $1.5 million.
It bears mentioning that these are unique cases of opportunity coinciding with the right luck. While these cases show a potential for massive gains in the crypto scene, there is a potential for financial losses.
As a result, investors should not take these disclosures as financial advice, but rather conduct thorough research and seek the services of professional financial advisors before making any investment in crypto.
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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