I read an analysis of Shiba Inu (SHIB) coin, which was launched in 2020. It was clear that purchasing $11.87 worth of SHIB at that time, an investor could have become a millionaire only one year and three months later because of its significant price increase. I need your opinion here, how fast can one achieve a millionaire status with meme coin?
The thing with Memes is that there's always that element of not knowing when it will cast and disappear with the wind. Otherwise, memes are a sure way of flipping small capital. The $11.8 investment in Shib that turned millions is achievable but that will be with those who got in early and refused to sell off too early. I'm not sure there are those who kept that long, except they momentarily forgot they once bought and then had to quickly rush to sell off.
In 2021 when memes got on the trend, there was a memetoken (Moonrat or Safemoon, I can't remember again) that I invested less than $100 that turned >$5,000 but greed set in and I was hoping it would hit at least $10k. But of course, we know how these things end. I lost a better part of that profit before I sold off in regret and moved on. I learned a valuable lesson from that.