A Shiba Inu (SHIB) investor inadvertently lost out on raking in $40 million in gains after he hurriedly cashed out on his investment upon witnessing a 50x increase.
This investment move was disclosed by the host of the crypto-focused YouTube channel Zero Waiting in one of his videos. Interestingly, he was the investor in question. However, his regrets are not as substantial as some would think.
Notably, the investor disclosed that he put $200 in Shiba Inu two years ago. In the video, dated November 2021, he noted that he had earlier called attention to Shiba Inu in February 2021 when the asset had yet to hit its all-time peak.
According to the investor, at the time of his initial video, he was discussing how he turned $200 in his SHIB investment to $10,000. This impressive increase translates to a massive 5,000% return on investment (ROI).
He confirmed that he cashed out on the $10,000 gain, representing a 50x increase in his initial investment. However, in the recent video, the YouTuber stressed how that move was not the best option then.
“In that video, I was basically showing off how I turned $200 of Shiba Inu into about $10,000. It was about $10,000 at the time of that video. I thought that was impressive gains at the time,” the YouTuber said.
Interestingly, after he took profits with the $10,000 investment, Shiba Inu skyrocketed further. This massive increase occurred as 2021 progressed, making Shiba Inu the mainstream crypto asset with the highest ROI.
SHIB first rallied to a high of $0.00003469 in May 2021 before facing resistance. The resistance resulted in a correction that saw the asset drop to the $0.000006 territory in June. However, this correction was short-lived, as SHIB surged to the ATH of $0.00008845 in October 2021.
This investor’s $200 initial investment would have appreciated to over $40 million if he had not sold off. This surge would represent an astronomical 200,000x increase in his investment.
Expressing his surprise, the investor remarked:
“Little did I know, my crazy predictions of 1,000x and it surpassing the market cap of Dogecoin actually became a reality.”
Following the surge to $0.0000845, Shiba Inu corrected further and has since been unable to recover. Currently trading at $0.000007989, the asset is down 91% from the ATH. However, several market watchers project an imminent recovery.
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