More often than usual, making tremendous profits off crypto investments has been discovered to involve two crucial attributes: Patience coupled with consistency.
In this insight, we shall demonstrate how the two unique qualities highlighted above can combine to turn one into a successful profit-oriented crypto trader.
Read Also: Top Shiba Inu Team Member Foresees Potential SHIB Bull Run, Recommends Dollar-Cost Averaging (DCA)
To educate our readers, we shall use Shiba Inu (SHIB) as a case study to decipher what a consistent $100 monthly SHIB investment, starting from January 2021, will amount to after thirty-eight months.
According to SHIB’s data on CoinGecko, the digital asset was priced at $0.000000000077295 in January 2021.
Bearing in mind that prices keep changing, which would invariably impact the amount of accumulated SHIB stores for each month, we have thought about this peculiar challenge and decided to adopt an averaging technique, the Dollar-Cost Averaging (DCA) online tool.
Data obtained from the DCA revealed two things. The first was based on general mathematical principles as it entails the total amount of investment fund that would have gone into SHIB investment for 38 months at $100 per month. The addition for the specified period is $3,800
The second and most important thing the DCA revealed was the total number of SHIB stores that $3,800 would have accumulated over 38 months. The DCA noted that the total number of procured SHIB tokens will be approximately 1,307,261,321,793 (1.307 trillion). It is worth noting that the DCA’s analysis considered Shiba Inu’s fluctuating prices within the stipulated time.
Read Also: Investing $100 in Shiba Inu (SHIB) Monthly Since Sept. 28, 2020, Would Return $30.8 Million Today
Shiba Inu (SHIB) is changing hands at roughly $0.000011. This implies that 1.307 trillion tokens will be currently worth about $14.38 million.
Profits from above investment are rare to come by in the crypto space, especially considering the period within which it happened.
While patience and consistency might have been implied as primary drivers for the investment strategy described in this insight, readers must do proper due diligence before making any investment decision. This piece should also not be treated as investment advise.
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