Data reveals that holders of Shiba Inu, a popular cryptocurrency, are currently enjoying a remarkable return on investment (ROI) of 1,865,428%, far surpassing the gains of risk-averse savings account holders.
Shiba Inu has garnered a large following, with millions of holders, surpassing the population of over 105 separate cities in the United States. Its meme-inspired origin has propelled its popularity and generated significant profits for those who hold onto it.
However, it is worth noting that during market downturns, meme cryptocurrencies like Shiba Inu tend to experience steeper declines compared to other crypto asset classes. For example, XRP, the seventh largest cryptocurrency, experienced a 10% crash between April 21 and May 1, whereas Shiba Inu collapsed by 26.22% during the same period.
This leads to the question of whether investing in tokens like Shiba Inu, or cryptocurrencies in general, is a wise choice compared to the more conservative strategy of depositing money in a bank, which carries lower risks of capital depletion.
According to Business Insider’s latest findings, standard U.S. savings accounts offer an annual percentage yield (APY) ranging from 0.01% to 0.3%. Digital banking platforms like Bask Bank and UFB Direct provide higher APYs, reaching as high as 5.25%. However, these rates pale in comparison to the returns obtained from holding Shiba Inu over the past year.
For instance, someone who invested in Shiba Inu exactly one year ago at a price of $0.000009379 would now see a gain of 158%, with the asset’s current value at $0.00002509. Despite significant volatility throughout the year, including a drop of over 30% when the price fell to $0.000006555, the investment also experienced a surge of over 400% at its peak when SHIB reached $0.000045. Overall, Shiba Inu holders currently retain more than double their initial investment.
In a remarkable case, a pseudonymous investor revealed that they held Shiba Inu for a period of 783 days, equivalent to approximately two years and 50 days. Despite entering the market during a bearish season, they managed to achieve a return of around 340%. They emphasized that if they had saved the funds in a bank, their profit would have been a mere 5%, failing to account for the effects of inflation.
Intriguingly, CoinMarketCap data indicates that investors who have never sold their Shiba Inu investments since acquiring them in 2020 would now command an astounding ROI of 1,865,428%. This means that even a $100 investment in Shiba Inu four years ago would now be worth nearly $2 million.
It is important to note that this content is purely informational and should not be considered financial advice. The views expressed in this article may be the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.