For well over a century, the stock market has been known as one of the world’s greatest wealth creators. Its long-term average annual return handily surpasses other investment vehicles, such as bonds, housing, and commodities (e.g., gold and oil).
But over the past couple of years, cryptocurrencies have lapped the return of the broader market many times over. Whereas the S&P 500 has slightly more than doubled since hitting its pandemic low in March 2020, the aggregate value of digital currencies has skyrocketed more than 1,250% over the same period.
While the “Big Two,” Bitcoin and Ethereum , are largely responsible for this nominal increase, it’s meme coin Shiba Inu ( CRYPTO:SHIB ) that’s been busy dropping jaws and setting records. Shiba Inu-themed coins were red-hot in 2021. Image source: Getty Images. A $100 investment one year ago would have gone a long way
When 2021 began, a single SHIB token could be purchased for a microscopic $0.000000000073. Some 12 months later, these same coins were going for about $0.000034. In eliminating six zeroes, Shiba Inu delivered a historic gain of approximately 46,000,000% in a year . That was enough to make investors who’d put a little over $2 to work at midnight on Jan. 1 millionaires.
But even if investors didn’t precisely buy at midnight on Jan. 1, they’re doing extremely well if they bought early in the year and are still hanging onto some portion of their investment.
For example, exactly a year ago, as of Feb. 6, CoinGecko.com notes that SHIB closed at $0.000000008264. This means it gained more than 11,200% in the first 37 days of 2021. But if crypto investors looked past this huge gain and bought in at the Feb. 6 close, they’d currently be sitting on a return of 277,611% one year later. Put another way, […]
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