- Debate on choosing between tokens like Shiba Inu and a conservative strategy of depositing money in banks for better yield has been put to bed in an interesting twist.
- Banks are reported to have a typical annual yield of between 0.01% and 0.3% while Shiba Inu alone has a 1,865,428% ROI.
Shiba Inu (SHIB) made a groundbreaking entry into the crypto market, accumulating unexpected returns to become one of the greatest financial gains in crypto history in just a year.
Currently, its number of holders is in the millions, surpassing the population of more than 105 cities in the US. However, the asset has entered into a severe bearish phase, declining by 4% in the last 24 hours, and 15% in the last 30 days. Between April 21 and May 1, Shiba Inu lost 26% of its value. Within the same period, XRP declined by 10%, falling from $0.53 to $0.48.
With this prolonged bloodbath within the crypto sector, the comparison between investing in this asset class and a more conservative strategy of depositing money in a bank for interest has been triggered.
To critically analyze this motion, a recent finding by Business Insider was reviewed, and was confirmed that a typical annual percentage yield (APY) of banks usually varies between 0.01% and 0.3%. Interestingly, Bask Bank, UFB Direct, and other digital banking platforms provide more substantial APYs as high as 5.25%. Comparatively, an individual who purchased Shiba Inu at $0.000009379 a year ago would have a 158% gain at a current price of $0.00002509. On the other hand, the asset experienced significant volatility within the period including a 30% fall to $0.000006555 and a 400% surge to $0.000045.
Shiba Inu has an Incredible ROI
Joining this discussion was an X user who claimed to have held Shiba Inu for 783 days, and had an approximate return of 340%. According to him, his funds in the bank would have earned him 5% gains without considering the inflationary pressure.
Held $SHIB for 783 days, it provided me with about 340% completely idle profit. In the bank, it would have given me less than 5% of my profit. Today I swapped it all to $KENDU. The community is tight, ambitious, and very engaged.
Data from CoinMarketCap (CMC) also estimates that individuals who never liquidated their Shiba Inu since its acquisition in 2021 will have a Return on Investment (ROI) of 1,865,428% at the time of writing. This implies that a $100 investment on the meme coin would be worth $2 million today.
In a NASDAQ report, it is mentioned that Shiba Inu was trading at $0.000000000077 on January 1, 2021. At the current price of $0.00002392, a $100 investment in January 2021 would be worth $31 million. For those who had the crystal ball and sold their asset on October 28, 2021, when it peaked at $0.00008841, they would have made $114.8 million.
Over the past couple of years, the team behind the meme coin has sought to back the project with real-world use cases, influencing the launch of a layer 2 blockchain solution Shibarium. Its resilience and incredible evolution have made it the 11th-largest crypto and the second-largest meme coin with a market cap of $14 billion.
Recommended for you:
Credit: Source link
