Seasoned Investor Reveals His Only Regret About Shiba Inu

Renowned crypto investor Jake Gagain shared his personal experience with Shiba Inu (SHIB) on X, highlighting his only regret about dog-themed tokens.

In a recent post on X, Gagain revealed that he bought his first Shiba Inu in April 2021, and that his assets had a market capitalization of approximately $100 million at the time.

Although Gagain did not reveal the value of his initial SHIB purchase, he expressed regret for not purchasing more Shiba Inu tokens when the asset was valued at $100 million.

Gagain’s regret reflects a similar sentiment among early cryptocurrency investors, who wish they had invested more money to maximize their profits after making big gains on their investments.

The Shiba Inu’s journey to fame

As of April 2021, Shiba Inu did not attract much attention among crypto enthusiasts. Many investors expected it to disappear, especially given that it was launched as a meme coin. The trend of most meme coins is to record minimal spikes and then be forgotten or fall into disrepair.

When Gagain first purchased SHIB, the token was trading with multiple zeros after the decimal point. Considering his large supply of 1,000 trillion tokens of Shiba Inu, a market cap of $100 million would make Shiba Inu’s price $0.0000001.

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Shortly after Gagain purchased its first SHIB token, Shiba Inu began to see significant development and significant price appreciation, which attracted the interest of the broader cryptocurrency community.

For example, in May 2021, Ethereum co-founder Vitalik Buterin sent 410 trillion SHIB tokens to a dead wallet. The token was gifted to him by Shiba Inu’s pseudonymous founder Ryoshi as part of a marketing strategy. Notably, Ryoshi sent 50% of SHIB’s supply (500 trillion SHIB) to Buterin.

Buterin burned 410 trillion (90%) of the gifted SHIB tokens, but sent the remaining 10% to charity. Buterin and Shiba Inu’s involvement unexpectedly thrust SHIB into the spotlight, and many investors flocked to acquire the token.

Additionally, top crypto exchanges including Binance listed Shiba Inu in May 2021. The positive developments surrounding Shiba Inu at the time caused the price to skyrocket, eventually reaching an all-time high (ATH) of $0.00008845 on October 28, 2021.

At the time of writing, SHIB is down 71.91% from its all-time high, with units trading at $0.00002476. Shiba Inu currently ranks as the 11th largest cryptocurrency with a market capitalization of $14.57 billion.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.


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