Predicting the next cryptocurrency to explode, buying early, and retiring as a millionaire is difficult, but some have made it.

Even though it might be harder to do with small investments in big projects like Bitcoin and Ethereum, meme coins have proven again and again that it’s doable, even with a tiny investment. Of course, the risks associated with it are higher, but there are many stories of people turning $1 or $2 into millions through meme coins like SHIB or PEPE.

In this post, we take a look at some examples of hitting the jackpot with SHIB and speculate on what the next Shiba Inu crypto asset could be, reviewing two upcoming meme coin projects – AiDoge and Wall Street Memes.

From Small Holder of Shiba Inu Coin to Multi-Millionaire

In October 2020, a trader decided to invest in Shiba Inu (SHIB) on the off chance it became the next Dogecoin – which at the time was also a fraction of its value today, but had been around since December 2013 and had some early success.

That unknown trader – tracked only by his wallet address and Etherscan data – bought $17 worth of SHIB tokens.

At the time, the Shiba Inu price was approximately $0.0000000001 – ranging at around that valuation throughout the month. That’s nine zeroes after the decimal point.

A year later, the Shiba Inu coin price hit its all-time high in October 2021, at a price of $0.00008854 – shortly before Bitcoin and Ethereum also hit their ATHs of just over $69,000 and just under $5,000. That’s four zeros after the decimal point.

Taking the ratio of the two, that’s an 885,400x increase – so even a $1 investment would’ve almost made him a millionaire. Selling his $17 investment at the perfect top would’ve netted him $15 million.

According to reports, he took some profit on the way up, gradually scaling out of his position – no trader can time the exact bottom or top of the markets – and his overall realized profit was $6.5 million.

Supermarket Warehouse Manager Becomes a Crypto Millionaire

A similar rags-to-riches story made it into the New York Post as, in that instance, the identity of the trader was known.

Rob invested $8,000 in Shiba Inu coin and sold relatively early – some of the earliest SHIB holders could’ve even become multi-billionaires – cashing out $500,000 after a few months of holding. The final blow-off top for SHIB increased his profit to $1 million.

The list of stories goes on, and according to the NY Post, one trader did earn $1 billion from a $7,850 investment in SHIB. Another cashed out $5.4 million after 14 months of holding.

Investing in New Coins Early

While there are also tales of people that bought the top and lost money, the key to success in trading is to buy low, sell high. The above traders all took a risk before the rest of the heard on a new cryptocurrency that was early in its roadmap.

New crypto presales and pre-ICO projects are launched regularly, and in 2023 meme coins have been the ones to watch – a new asset named after Pepe the Frog minted many millionaires in the first quarter of this year.

Just like SHIB and DOGE before it, new meme coins like PEPE, SPONGE, WOJAK, and others have had exponential price increases and created generational wealth for holders that get in and out at the right time.

Two Meme Coins to Watch

Two upcoming meme coins to watch in the weeks to come are AiDoge (AI) and Wall Street Memes (WSM).

AiDoge blends meme coins with another popular crypto trend right now – artificial intelligence – as the first ‘meme to earn’ platform in which users generate AI-based memes from text prompts.

Meme creators using its tools earn its native coin AI as a rewards token. The presale for AI sold out in record time last month after raising a huge $14.9m. It is now set to be listed on its first crypto exchanges on June 19, 2023.

Wall Street Memes is set to tokenize the meme stocks movement that kicked off the GameStop and AMC short squeeze and build on its existing following on Instagram and Twitter – which has even been noticed by Elon Musk.

Popular crypto influencer Michael Wrubel recently reviewed the WSM presale for hits 310,000 subscribers and many analysts have shared their positive predictions.

Wall Steet Memes has raised over $6m in just over two weeks, showing that investors are placing plenty of faith in the project.

While they may not all replicate the success of Shiba Inu and create millionaires, new meme coins typically have greater upside as a short-term trade than the big caps like BTC and ETH, and AI and WSM appear to be two of the hottest to watch right now, given the performance of their pre-sales. Of course, the risks associated with investing in meme coins is certainly higher than that of investing in Bitcoin or other established projects.

Visit Wall Street  Memes Presale

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The post How This Early Shiba Inu Coin Investor Turned Into A Millionaire: Could WSM be the Next Big Meme Coin? appeared first on CryptoPotato.

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Filed under: Bitcoin - @ June 12, 2023 3:04 pm