A family in New York makes millions because of SHIB tokens.
A cryptocurrency has reached a new achievement when it has its own hard fork or spin-off coin. It looks like Dogecoin has its own spin-off currency known as Shiba Inu coin or SHIB. Now a lot of people are already millionaires because of early investments to the coin.
Shiba Inu Coin Is Really Moving Forward
The currency got its name from the animal that has been featured as the face of Dogecoin. As a meme coin, DOGE was designed to make fun of cryptocurrency and its enthusiasts. However, it has garnered a massive reputation and surged in price and value. Now, it is the fourth largest digital asset by market cap.
It seems like Shiba Inu coin is the first hard-fork of Dogecoin. While it is still new, the asset already made a lot of serious headway in the crypto industry. A family in New York is now made of millionaires, and it is because of SHIB’s success. After investing $8,000 into the asset, the family has seen the initial investment spike to around $9 million as of now.
Additionally, a crypto billionaire donated over $1 billion of Shiba Inu coin to a COVID relief fund in India. Hence, the currency seems to be getting a lot of attention at the moment.
Shiba Inu’s value surged and grew by over 10,000% this year. Now it is one of the largest and fastest-expanding digital assets known. The New York family is still anonymous as of now, for they do not want to get unwanted publicity. But they mentioned that they invested in the Shiba Inu coin last February. Then they continued to purchase the asset until they spent over $8,000.
The move seems to be irresponsible for some. To invest around $10K into a brand new coin that could fail in just a moment’s notice is very risky. But for the family, the investment has seemingly paid off.
Investing in SHIB
The family runs a wedding business in New York. In a closed interview, they revealed that their business was contained when the coronavirus pandemic started. They also stated that they were meant to stop the business before the investment. So this was the last resort for everyone.
Shiba Inu coin was listed on Wazir X – India’s cryptocurrency exchange – last week.
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