TL;DR Breakdown
• Shiba Inu cryptocurrency is up 11,000% in less than 30 days.
• The family group that trusted the cryptocurrency earned $9 billion.
Tommy and James worked together filming weddings; it was a profitable business, but everything changed when the pandemic and social distancing hit. The brothers declined financially, only filming eight weddings in 2020, of which in previous years they participated in 30 or 40 celebrations.
The young people did not reveal their last name when CNN quoted them to learn their incredible story. They share with the magazine that government controls were not good enough to sustain them financially.
Cryptocurrencies have gained more fame in 2021 with the rise and fall of their preferred tokens, such as Bitcoin. Although the price is volatile in cryptocurrencies, some stand out for their outrageous profit percentage. James and Tommy were encouraged to bet on the crypto market without being clear about how it worked.
The Shiba Inu investment changed their life
One fateful day brothers Tommy and James invested $200 each in Shiba Inu cryptocurrency. Young people trusted the cryptocurrency for the profits it promised and the low cost of each of its tokens.
After the investment, the brothers invited their family and friends to bet their money on cryptocurrency. However, his mother and sister were skeptical of such an initiative that James and Tommy shared. After hours of chatting, both people close to the brothers invested $100 in the cryptocurrency.
After a week of the investment, Shiba Inu cryptocurrency rose 300% of its original value, which greatly encouraged the brothers and mother. Therefore, everyone involved invested $100 more in the cryptocurrency.
Shiba Inu’s rise in the crypto market
The Shiba Inu cryptocurrency continued to climb in the days after as the brothers continued at work filming weddings. James and Tommy were pending their investment which had gone on to reach $100,000. In these hours, the investment value rose to $700,000, and in less than 24 hours, it reached one million dollars.
According to CNN Business, the family’s initial investment was $7,900 and is now capitalized at $9 billion. This family has been involved in crypto investments with a token that was a joke, just like Dogecoin.
Shiba Inu cryptocurrency is a Dogecoin-like token with a low capitalization since its inception. The token has the image of the dog “Shiba Inu” of Japanese origin, just like Dogecoin.
This cryptocurrency the brothers bet on was created in 2020 as part of a prank for Dogecoin. But, Shiba Inu showed good capitalization in days after its launch, becoming the favorite of many investors. The value of the cryptocurrency soared 11,000% in less than a month, according to figures shared by CoinGecko.
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