Shiba Inu's Insane Return On Investment: How Much You'd Have If You Invested $1K One Year Ago

Contending memecoin Shiba Inu SHIB/USD is purportedly the cryptocurrency with the highest one-year return on investment.

What Happened: In a Saturday tweet financial journalist and analyst Jon Erlichman compared the current value of $1,000 invested in major cryptocurrencies one year ago. Shiba Inu topped the ranking, beating the second most profitable trade by two orders of magnitude.

Shiba Inu came in first with a value exceeding $740 million, followed by Axie Infinity's AXS/USD nearly $1.1 million, Telcoin TEL/USD at $130,000, Polygon MATIC/USD at $128,000. A $1,000 investment in memecoin market leader Dogecoin DOGE/USD increased to "only" $96,000 over the past year while a similar investment in Ethereum ETH/USD grew to $9,800 and in Bitcoin BTC/USD to $3,900.

These estimates were released as a recent exclusive Benzinga report showed that Shiba Inu's volume on crypto exchange OKEx significantly overtook Dogecoin's, with an exchange representative noting that "SHIB has captured retail interest in a big way."

SHIB Price Action: As of press time, Shiba Inu is trading at $0.00005797 after seeing its price decrease by about 1.0% over the last 24 hours, according to CoinMarketCap data.

Related Link: Data Shows 78% Of Shiba Inu Holders Are Making Money

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: CryptocurrencyMarkets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!