Despite being the most famous, Dogecoin has not been the only virtual prank currency that has benefited from the rise in its price in recent months. On the contrary, the fever for DOGE has led to the birth of multiple cryptocurrencies that, without a serious technological project behind, aspire to share the success experienced by Dogecoin. Which has allowed two brothers to become millionaires thanks to Shiba Inu, one of these joke coins.
From Dogecoin to Shiba Inu
Dogecoin’s success in the crypto market has been anything but expected. And, the cryptocurrency has always enjoyed a certain fame within the crypto world, being a virtual joke currency abandoned even by its creators. However, until now its only utility was being a technological curiosity for the crypto community, and a value in speculative trading.
This began to change since the beginning of this year when, boosted by Elon Musk’s support for the virtual currency, Dogecoin began to multiply its value exponentially. Encouraging more and more investors to enter its market, becoming one of the cryptocurrencies with the largest market capitalization in the world.
The increase in the price of Dogecoin has been one of the main surprises of the year. Source: CoinMarketCap
Something that, of course, encouraged other users of the crypto community to create and bet on other joke coins, hoping that they would experience increases in their price similar to those of Dogecoin. The clearest case of this being Shiba Inu, an ERC-20 token that serves as a parody of Dogecoin and that in recent weeks has seen its price soar thanks to the pure speculation of the markets.
Millionaires by accident
However, the reason behind the increase in the price of Shiba Inu is not of interest to those who have benefited from it. This being the case of the American brothers Tommy and James, 38 and 42 years old respectively, who decided to bet on virtual currency animated by a friend who is an expert in cryptocurrencies, and before the fall of their wedding filming business due to the pandemic of the COVID-19.
“I thought about Bitcoin, which was once a fraction of a penny and now it is tens of thousands of dollars, and this happens to people, it is possible. I trusted my friend and figured if it went down to zero it was fine. I thought of it as a lottery ticket that would not expire. ” Commented Tommy who, along with his brother James, requested that his last name be kept secret.
Tommy and James became millionaires thanks to Shiba Inu and his amazing increase. Source: CoinMarketCap
In the end, the brothers’ lottery ticket has been awarded. Well, although at first the brothers and their closest relatives only invested a few hundred dollars, as the price of the virtual currency increased, they increased their participation in Shiba Inu until it reached $ 8,000. Which, today are equivalent to 9 million dollars. A sample of how speculation in the cryptocurrency market can be enough to make fortunes come from nowhere, and also to dissipate them.