‘Doge-killer’ Shiba Inu makes brothers millionaires

The lives of two brothers from Westchester are now forever changed thanks to a bizarre cryptocurrency bet they made, investing in the Dogecoin spin-off Shiba Inu coin.

According to CNN, in February, brothers James and Tommy (who requested their last name not to be revealed) invested $200 each on the ERC-20 Shiba Inu token nicknamed “doge-killer,” which was worth just a fraction of a cent back then.

The duo shared one of their friends they consider a crypto expert told them the coin could be a huge moneymaker. Two months later, James and Tommy became millionaires.

Journey towards being millionaire

Tommy recalled his mother and sister being a bit skeptical when they presented the idea about investing in Shiba Inu. Nonetheless, they still invested $100 each, and both put in another $100 after a few weeks when the cryptocurrency was up by 300%.

He also shared about the day their investment hit $1 million for the first time. Tommy said, “We woke up the next morning and it doubled. We were like, ‘Oh my God.’ Then it went up to $700,000.” That was the point he told his brother James that it was going to “hit a million.”

The following day, their Dogecoin-spin-off investment reached a million, and as of Thursday, their investment is valued at $9 million.

The other Doge in the house

The Shiba Inu token, under the ticker SHIB, was created less than a year ago as an obvious parody of the parody crypto, Dogecoin.

But just like the original “doge” of the house, despite starting out as a joke, it is now up 11,000% for the past 30 days, but still possesses a measly value of $0.00001583 but with a market capitalization of almost $8 billion.

It also features celebrity backers, such as Backstreet Boys star Nick Carter and NFL star Antonio Brown.

 

Image courtesy of Cointelegraph News/YouTube

Micky is a news site and does not provide trading, investing, or other financial advice. By using this website, you affirm that you have read and agree to abide by our Terms and Conditions.
Micky readers - you can get a 10% discount on trading fees on FTX and Binance when you sign up using the links above.