Rags To Riches: Jobless Brothers From New York Became Millionaires After Investing In 'Dogecoin Killer' — Imagine If They Still Held On To SHIB Today?
Portfolio Pulse from Mehab Qureshi
Two brothers from New York became millionaires overnight after investing in Shiba Inu (CRYPTO: SHIB), a meme coin initially created as a joke. They initially invested $200 each and later added $100 each when the coin's value had already gained 300%. Their original stake of $7,900 was worth nearly $9 million as of May 14, 2021. However, if they held onto their SHIB today, they would be facing a significant loss of $5.49 million due to SHIB’s trading value dropping.
September 29, 2023 | 12:45 pm
News sentiment analysis
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NEUTRAL IMPACT
The story of the brothers' investment in Shiba Inu, a spinoff of Dogecoin, may influence investors' perception of Dogecoin and its potential returns.
While the news does not directly impact Dogecoin, it may influence investors' perception of meme coins, including Dogecoin, and their potential for high returns.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
The sharp decline in the value of Shiba Inu from its peak in May 2021 may negatively impact investor sentiment and could lead to further selling pressure.
The news highlights the volatility and potential losses in investing in Shiba Inu, which could deter potential investors and lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100