Shiba Inu (SHIB) has become incredibly popular for several reasons, with one of the main reasons being its launch and the following months, during which many investors became millionaires. The meme coin has changed the lives of numerous individuals, including two brothers who were struggling financially and unemployed. However, their fortunes changed after investing $8,000 in SHIB.
Tommy and James, two brothers aged 38 and 42, lost their jobs as wedding filmmakers due to the Covid-19 pandemic. One of their friends introduced them to Shiba Inu, a spinoff of Dogecoin, which caught their attention due to its low price. They each invested $200 in SHIB, totaling an investment of $400.
Tommy stated that he thought about Bitcoin and how it went from being worth a fraction of a penny to tens of thousands of dollars, so he trusted his friend’s recommendation. He viewed the investment as a lotto ticket that wouldn’t expire, even if it went to zero.
Within a week of their initial investment, the brothers saw significant growth in their investment, turning their initial investment of $400 into $1,200. Encouraged by their success, they decided to invest even more and sought funds from their family members.
Their mother and sister were initially hesitant but eventually invested $100 each as they saw the SHIB asset’s dramatic rise. As a result, they became more convinced and decided to invest more funds. Ultimately, the brothers were able to invest $8,000 in SHIB in 2020.
Brothers Turned Millionaires in 2021
Shiba Inu experienced exceptional gains in 2021, leading some investors to become millionaires. Tommy and James, two brothers who were struggling financially due to the pandemic, invested $8,000 into Shiba Inu, which turned into $9 million in just eight months.
The surge resulted from Shiba Inu removing five zeros from its value, leading to prominent gains for early investors who held onto their tokens. Tommy and James were ecstatic when they hit the million-dollar mark, with Tommy saying, “I kept refreshing my phone. The next day, it happened. The day it hit a million — my mom and sister, they didn’t think it was real.”
Shiba Inu Struggles to Regain All-Time Highs
Despite its popularity, Shiba Inu hasn’t seen significant gains lately. Although it reached an all-time high of $0.00008845 in October 2021, the meme coin’s value has been decreasing since then. As of now, SHIB is trading for $0.000008888 with a 0.58% daily rise. It’s worth noting that the meme coin is almost 90% below its peak value.