The Shiba Inu [SHIB] ecosystem has witnessed impeccable growth over the last couple of years. Particularly right after its launch, the asset shot up and created millionaires. But it seems like this era of SHIB creating millionaires is long gone, as the meme coin was seen struggling at the $0.000017 level at press time. Over the past month, SHIB has dipped by 30%. Despite this, data reveals that an investment of $1000 per month since 2020 could have turned investors into billionaires and not just millionaires.
If $1,000 is invested each month from August 1, 2020, to July 2, 2024, using the DCA technique, the total investment would be $46,000. The maximum amount of return is $1.5 billion. This results in an additional 3292889% rise in portfolio performance.
Shiba Inu and DCA
A popular investing technique called dollar-cost averaging (DCA) involves consistently investing a specific amount of money. This is regardless of the asset’s price. It may be done on a monthly or quarterly basis and is best suited for long-term investors as opposed to short-term traders. Using this tactic, some investors only make investments when the asset’s price drops below their initial spending.
This has been employed by prominent figures like Warren Buffett and Michael Saylor. But they have used this strategy with stocks and not cryptocurrency.
Related articles
Also Read: Shiba Inu Gets 1st Public Company in US to Accept SHIB for Payments
Shiba Inu Current Market Status
At press time, SHIB was trading at $0.00001731 with a 1.28% daily surge. The asset saw a major drop of 20% in volume and was at $155,867,375. According to IntoTheBlock, most SHIB investors were making a profit. The market had over 51% of its investors in green. A total of 47% were still drowning in the red sea.
Also Read: Shiba Inu: Shytoshi Kusama Teases Official Personality Reveal
Credit: Source link
