Benzinga - A 35-year-old former supermarket warehouse manager, Rob, achieved early retirement thanks to a remarkable turn of events involving his $8,000 investment in the meme cryptocurrency Dogecoin (CRYPTO: DOGE) killer Shiba Inu (CRYPTO: SHIB).
What Happened: Seeking to improve his family’s quality of life, Rob told Fortune that he ventured into the world of meme cryptocurrencies in 2021, ultimately stumbling upon the promising yet obscure Shiba Inu coin, which had been founded in August 2020.
Rob gradually invested $8,000 in Shiba Inu, initially hoping to see modest gains amounting to tens of thousands of dollars. However, the coin’s astonishing rally in May 2021 exceeded all expectations as its price skyrocketed 1,200 times higher than its value in February. Overwhelmed by the sudden accumulation of wealth, Rob, who came from a modest background, felt he was living a dream come true.
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Why It Matters: Taking precautionary measures to secure his earnings, Rob withdrew $500,000 worth of Shiba Inu coins from the exchange and transferred the sum to his bank account, enabling him to quit his job.
Looking back, had Rob held onto his Shiba Inu holdings and not withdrawn $500,000 worth, his investment would have ballooned to approximately $3.36 million. With the current price of Shiba Inu at $0.000007569 per token, representing a staggering 41,950.00% gain since his initial purchase, considering he bought SHIB in February at an average price of $0.0000000180.
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