The debate over whether to choose tokens like Shiba Inu or a conservative bank deposit strategy for better yields has taken an interesting turn. Banks typically offer an annual yield between 0.01% and 0.3%, while Shiba Inu alone has seen a remarkable 1,865,428% return on investment (ROI).
Shiba Inu (SHIB) has made a groundbreaking entrance into the crypto market, delivering unexpected returns and becoming one of the most significant financial gains in crypto history within just a year. Currently, it boasts millions of holders, surpassing the population of over 105 US cities. However, the asset has recently entered a severe bearish phase, experiencing a 4% decline in the last 24 hours and a 15% drop in the last 30 days. From April 21 to May 1, Shiba Inu lost 26% of its value, while XRP declined by 10%, falling from $0.53 to $0.48 within the same period.
In light of the ongoing bloodbath in the crypto sector, the comparison between investing in this asset class and adopting a more conservative bank deposit strategy for interest has been brought up. To delve into this matter, a recent finding by Business Insider was reviewed, confirming that the typical annual percentage yield (APY) of banks usually ranges from 0.01% to 0.3%. Interestingly, certain digital banking platforms such as Bask Bank and UFB Direct offer more substantial APYs, reaching as high as 5.25%. In comparison, an individual who bought Shiba Inu at $0.000009379 a year ago would have gained 158% with the current price of $0.00002509. However, the asset’s volatility during that period included a 30% drop to $0.000006555 and a 400% surge to $0.000045.
One user, who goes by the name X, shared their experience in the discussion, claiming to have held Shiba Inu for 783 days and achieving approximately 340% in returns. According to them, if their funds were in the bank, they would have earned less than 5% profit, without considering inflationary pressure.
CoinMarketCap (CMC) data also estimates that individuals who have not sold their Shiba Inu since acquiring it in 2021 would have a staggering 1,865,428% return on investment (ROI) at the time of writing. This means that a $100 investment in the meme coin would now be worth $2 million.
According to a NASDAQ report, Shiba Inu was trading at $0.000000000077 on January 1, 2021. With the current price at $0.00002392, a $100 investment in January 2021 would now be valued at $31 million. Those who sold their assets on October 28, 2021, when it reached its peak at $0.00008841, would have made $114.8 million, provided they had the foresight to do so.
Over the past few years, the team behind the meme coin has worked to support the project with real-world use cases, leading to the launch of the Shibarium layer 2 blockchain solution. Its resilience and remarkable evolution have propelled it to become the 11th-largest crypto and the second-largest meme coin, with a market cap of $14 billion.
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