Being legitimized by Bitcoin in 2009, cryptocurrencies have changed the lives of many investors over the years. In one of them, a 35-year-old supermarket worker embarks on a millionaire journey with this altcoin. Here is his story…
From $8000 altcoin investment to millionaire
In 2021, Rob, a 35-year-old supermarket warehouse manager, decided to explore the crypto world. He came across a 28-page whitepaper of the Shiba Inu network. He soon decided to make his first crypto investment in a meme coin, SHIB.
Rob likes the term “decentralized spontaneous community” that woofpaper uses to describe the Shiba Inu.
Rob’s first risky investment in a Shiba Inu
Struggling to make $68,000 a year, Rob made a risky investment of $8,000 in his first investment in SHIB. This amount was quite a risk compared to Rob’s earnings. However, when SHIB began its upward trajectory, things soon began to change for the former warehouse manager.
Rob also stated that as Shiba’s value continued to rise in May, he started checking his account hourly. At one point, when the Shiba Inu investment reached $500,000, he decided to cash out. He then immediately deposited it into his bank account.
Rob soon became a millionaire
Rob’s investment soon exceeded $1 million as SHIB rallied again later. Meme coin managed to rise once again in October. This time, Ron said he didn’t sell all of his capital, unlike the previous $500,000 he earned in May.
Rob also claimed that joining the Shiba Inu community gave him a sense of belonging. Since then, it has invested in additional Shiba Inu ecosystem coins like LEASH.
How about the SHIB price? Are altcoin bulls ready for the next rally?
Things didn’t go so well for Rob’s SHIB. While adoption and network improvements are in full swing, its price has continued to decline. Currently, SHIB price is 88% below the ATH level of $0.00008845. At the time of writing, it is trading above $0.00001057, up around 5% from the last 24 hours.
Technically, it has been trying to break through significant resistance for about two months. The $0.00001169 resistance level, if turned into support, could trigger a rebound to $0.00001200, the price point most investors expect SHIB to return to.
The reason for this momentum is that traders who bought the Shiba Inu between $0.00001100 and $0.00001400 will profit when the above-mentioned resistance level is reached. Over 250 trillion SHIBs, valued at $2.59 billion at current prices, will become profitable as the average price they were purchased at is $0.00001200. cryptocoin.comIn this article, we have included the critical levels to watch in SHIB price this week.
