Shiba Inu SHIB/USD has emerged as a strong competitor to the meme-coin king Dogecoin DOGE/USD.
However, the well-known DOGE bull and Tesla CEO Elon Musk made it amply clear that he doesn’t own any SHIB.
Musk’s revelation was made on Oct. 24, 2021, in response to a Shiba Inu-oriented Twitter account asking him how much SHIB he was holding. At the time, Musk simply said, “None.”
See Also: Best Crypto Debit Cards
The Investment: If an investor was not discouraged by Musk’s non-existent holdings of SHIB and put in $100 in the Ethereum ETH/USD-based token at the time, here’s how much they would have now — keeping in mind SHIB’s press time price of $0.00001201.
| Date Of Purchase/Listing | Purchase Amount | Purchase Price | Coins Obtained | Current Worth | Percentage Change | |
|---|---|---|---|---|---|---|
| Oct. 24, 2021 | $100 | 0.000036 | 2777777.78 | $33.36 | -66.4% |
The investor would end up with a loss of 66.4% and the $100 would be only worth $33.36 at press time.
The returns may be astonishingly low but it's not all doom and gloom. Read more about Shiba Inu price predictions here. Also read about the planned "massive burn" ahead of the Shibarium launch that is touted as a positive event for the meme coin.
Photo: Re-purposed from NARA archives
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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