Shiba Inu’s 2021 surge turned what looked like pocket change into life-changing windfalls for some early backers. Fueled in part by a high-profile token burn by Ethereum co-founder Vitalik Buterin — reported at almost $6 billion worth of SHIB — the memecoin outpaced major cryptocurrencies during that bull run, capturing headlines and making overnight millionaires out of everyday people. Notable rags-to-riches SHIB stories: - Tommy and James: Before 2020, these two brothers made a living filming weddings. The COVID-19 pandemic devastated their business, and government stimulus barely kept the family afloat. Still, they took a chance on Shiba Inu, investing $7,900. By May 2021 that stake had ballooned to roughly $9 million, according to a CNN interview. - Rob, a store manager from Northern England: While researching crypto, Rob came across SHIB’s whitepaper and put in about $8,000 in 2021. That position quickly grew to roughly $1 million. Both he and the brothers invested similar amounts, but the brothers’ earlier entry produced a far larger return. - An American trucker: In 2020 a U.S. trucker bought $670 worth of SHIB; by May 2021 that holding was worth about $1.7 million. He ultimately quit his job. The trucker’s boss later posted on X, “One of my drivers quit because he made $1.7M in crypto on a $670 investment. Good guy, has kids. Doesn’t matter, that’ll still infuriate the bankers and lawyers slaving away for $500k a year.” These anecdotes highlight how extreme volatility and timing in the memecoin market created outsized winners during the 2021 frenzy. They’re compelling examples of crypto’s potential upside — but they’re also outliers. SHIB’s rapid gains came with equally dramatic price swings, and such outcomes are rare rather than typical. Investors should weigh the high-risk nature of memecoins and do their own research before jumping in. Read more AI-generated news on: undefined/news

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