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Shiba Inu coin investment turned New York brothers into multimillionaires after they bet $8,000 on the ‘parody’ cryptocurrency, reports say



The crypto bet paid off
for the family.

Getty

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A New York family’s investment of about $8,000 in Shiba Inu coin,
a dogecoin spin-off, netted them a $9 million fortune in the
space of a few months,
CNN Business
reported. 

The token gained attention last week as a crypto billionaire

donated $1 billion
of Shiba Inu coin to help with India’s
COVID-19 relief. 

The coin’s value has grown by about 10,000% this year, according
to Coinbase. It

dipped about 34%
after the Indian donation from Ethereum
creator Vitalik Buterin was announced.  

The New York family, which asked CNN Business to not use their
surname, began investing with a few hundred dollars in February.
They continued buying into the coin until they had about $8,000
invested, the report said.

By Thursday, the family’s investment was worth “nearly $9
million” CNN Business reported, saying it had reviewed the
family’s crypto records.

It was a dramatic turnaround in fortunes for the brothers, who
live in Westchester county and whose wedding business was nearly
destroyed as a result of the COVID-19 pandemic. 

Shiba Inu coin calls itself the “Dogecoin Killer,” as they share
the same symbol: the Shiba Inu
breed

The token
was listed
on India’s WazirX crypto exchange last week. 

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