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