Shiba Inu has generated massive returns for it’s investors this year. It was at the center of the whole meme-coins craze and for a brief period even overtook Dogecoin to become the 9th most valuable cryptocurrency in the world.
Today, Shiba Inu stands at 13th position in the world in terms of cryptocurrencies by market capitalization. Since November, the price of Shib has seen a 60% fall but the ShibArmy is rushing to buy the dip.
ShibArmy remains confident in the future of Shiba Inu and this can be proved by a Reddit trader who turned $16,000 into $167,000 by putting his money in Shib.
“I Initially Put $16k”
On Reddit, a user who goes by r/Farm1970 tag shared his Shiba Inu earnings. He wrote “I initially put $16k investment into SHIB….sitting on $167k return as of today, which has dropped SIGNIFICANTLY in the last few months….. time to diversify???”
The reddit user shared the screenshot of his investing portfolio which highlights the lack of diversification. 100% of his money was invested into Shiba Inu and fellow ShibArmy members rushed to the comments section to give the user some advice.
While some suggested r/Farm1970 to ‘hodl’ his coins, others told to cash out. There were other members who suggested to cash out half portion or cash out (if not half) some portion.
ShibArmy Prepares For Another Rally
As most Shiba Inu hodlers are active on Twitter and Reddit, a quick look at their community shows that even though the crypto markets have been plummeting off late, the Shib Army is optimistic about the future of Shiba Inu.
Investors who believe in Shiba Inu are reluctant to sell-off their holdings and are preparing for another leg-up rally in the prices.
Given that SHIB has fallen more drastically compared to Dogecoin, it can be said that it is trading at a higher discount than compared to it’s peer meme-coin. Also, as Dogecoin has already grown and matured into a gigantic project, there are lesser attractive reasons to invest in it.