After its owner began trusting in the cryptocurrency’s Shib future owing to its community, clothing firm Hoss Co. reportedly got a 1,500 percent return on a $10,000 investment in the meme-inspired cryptocurrency Shiba Inu ($SHIB).
Gfinity Esports’ owner Matthew Goldby opted to invest $4,000 of the company’s remaining $7,000 in the meme-inspired cryptocurrency after learning about it on Stocktwits earlier this year.
In 2019, the entrepreneur had Dogecoin ($DOGE), a meme-inspired cryptocurrency. But sold the money before search demand for DOGE soared. Therefore, resulting in a whopping 10,000 percent price increase.
After initially investing in SHIB, the company continued to accumulate tokens until the May market drop. Also, to the point where it halted its advertising spend and Goldby took on Door Dash jobs to keep purchasing the dip. After investing $10,000 to purchase 4.5 billion SHIB, the company came to a halt. The tokens now have a value of $160,000.
Goldby was quoted in the news site as saying.
“I was in Doge in summer 2019, and I fumbled the bag. With Shiba, God was like, ‘Hey, you have a second opportunity. Don’t mess it up.’”
Goldby claimed that he was the 500th member of Stocktwits’ SHIB community, which he witnessed expand over time. According to him, it was “the Shiba community” that convinced him of the cryptocurrency’s viability. The SHIB community, also known as the SHIBArmy, has been working to have the cryptocurrency listed on several exchanges. Such as, Kraken.
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