Contending memecoin Shiba Inu (CRYPTO: SHIB) is purportedly the cryptocurrency with the highest one-year return on investment.
What Happened: In a Saturday tweet financial journalist and analyst Jon Erlichman compared the current value of $1,000 invested in major cryptocurrencies one year ago. Shiba Inu topped the ranking, beating the second most profitable trade by two orders of magnitude.
Shiba Inu came in first with a value exceeding $740 million, followed by Axie Infinity's (CRYPTO: AXS) nearly $1.1 million, Telcoin (CRYPTO: TEL) at $130,000, Polygon (CRYPTO: MATIC) at $128,000. A $1,000 investment in memecoin market leader Dogecoin (CRYPTO: DOGE) increased to "only" $96,000 over the past year while a similar investment in Ethereum (CRYPTO: ETH) grew to $9,800 and in Bitcoin (CRYPTO: BTC) to $3,900.
These estimates were released as a recent exclusive Benzinga report showed that Shiba Inu's volume on crypto exchange OKEx significantly overtook Dogecoin's, with an exchange representative noting that "SHIB has captured retail interest in a big way."
SHIB Price Action: As of press time, Shiba Inu is trading at $0.00005797 after seeing its price decrease by about 1.0% over the last 24 hours, according to CoinMarketCap data.
Related Link: Data Shows 78% Of Shiba Inu Holders Are Making Money
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