Shiba Inu coin investing turned New York brothers into multimillionaires months after betting $ 8,000 on ‘spoof’ cryptocurrency, reports show

  • A new York the family’s $ 8,000 investment in shiba inu coin reportedly earned them $ 9 million.
  • CNN Affairs asked the family, who started investing in February.
  • The coin’s value has risen by more than 10,000% this year, according to Coinbase.

The investment of about $ 8,000 by a New York family in the play Shiba Inu, a dogecoin spin-off, brought them a fortune of $ 9 million in the space of a few months, CNN Affairs reported.

The token gained attention last week as cryptography billionaire donated $ 1 billion of Shiba Inu coin to help relieve COVID-19 in India.

The coin’s value has increased by around 10,000% this year, according to Coinbase. This plunged about 34% after the announcement of the Indian donation from the creator of Ethereum, Vitalik Buterin.

The New York family, who have asked CNN Business not to use their last name, began investing a few hundred dollars in February. They continued to buy the coin until they invested around $ 8,000, according to the report.

The family’s investment on Thursday was worth “nearly $ 9 million,” CNN Business reported, claiming to have examined the family’s crypto records.

It was a dramatic turnaround for the brothers, who live in Westchester County and whose marriage business was nearly destroyed in the wake of the COVID-19 pandemic.

The Shiba Inu coin is called the “Dogecoin Killer” because they share the same symbol: the Shiba Inu breed.

The token has been listed on Indian crypto exchange WazirX last week.

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