A warehouse worker has quit his job and retired at age 35 after investing around $ 8,000 in the meme-inspired Shiba Inu cryptocurrency.
The risky gamble turned this husband and family man into a millionaire in less than a year, according to Fortune, after the price of the coin soared more than 700,000 percent in 2021.
The former grocery store manager, who said his name was Rob to maintain anonymity, told the magazine that he became interested in Shiba Inu after reading the white paper on the coin, called “woofpaper.”
The woofpaper, written by the creator of Shiba Inu under the pseudonym Ryoshi in August 2020, describes how the cryptocurrency relies on the Ethereum network to serve as both a currency and a decentralized platform for technologies such as smart contracts.
He also claims that it is an “experiment in decentralized spontaneous community building”, adding that “Shiba Inu are amazing dogs” (the same breed of dog that inspired the dogecoin cryptocurrency).