He Bought Shiba Inu Coin for KSh100 Before the Boom – Cashed Out at KSh15 Million

In March 2020, college student Jonas Kipkoech decided to invest KSh100 into a new obscure cryptocurrency called Shiba Inu Coin.

At the time, it was worth practically nothing and Jonas almost forgot about the investment altogether.

However, within 18 crazy months, that seemingly insignificant KSh100 investment into Shiba Inu Coin turned into a mind-blowing profit of over KSh15 million for Jonas!

This is the incredible story of how he rode the meteoric rise of Shiba Inu to life-changing wealth by acting early on an “unreasonable” hunch.

Developing an Interest in Crypto

Jonas first heard about the concept of cryptocurrencies in 2018 during his second year studying business at Kenyatta University.

A classmate of his mentioned making good money investing in something called Bitcoin. This sparked Jonas’s interest.

In his free time, Jonas started reading up on crypto news and tutorials. The technology behind blockchain and decentralization fascinated him.

While skeptical of the volatility, Jonas decided to cautiously invest $50 into Bitcoin and Ethereum to learn first-hand how cryptos worked.

The small investments sparked his curiosity and motivated him to continue monitoring the emerging crypto asset class.

Discovering an Obscure New Meme Coin

By early 2020, Jonas was casually trading altcoins looking for upswing opportunities. This is when he first discovered Shiba Inu Coin.

Shiba Inu branded itself as an alternative to the hyper-popular Dogecoin. It used the Shiba Inu “doge” meme as its mascot.

However, unlike Dogecoin which had billions in market value, the newly launched Shiba Inu Coin was virtually worthless in March 2020.

Jonas thought the meme-theme was funny and decided to take a chance by investing KSh100 into Shiba Inu Coin when it was priced at just $0.00000000044.

He purchased over 200 million Shiba coins, then didn’t think too much of it afterwards, leaving the investment untouched on his crypto exchange account.

Watching His KSh100 Turn to KSh15 Million

Amazingly, over the next 18 months, Shiba Inu Coin experienced a meteoric near-vertical price surge.

This was fueled by internet hype, Elon Musk tweets, and crypto market mania kicking into overdrive.

By October 2021, those same Shiba Inu coins Jonas had bought for KSh100 were now worth a staggering KSh15.4 million!

He watched in disbelief as his forgotten, joke investment kept climbing day after day. But he held on without cashing out.

At the peak, his 200 million Shiba Coins purchased for just KSh100 were temporarily worth KSh20 million.

Jonas finally decided to sell 75% of his Shiba Inu holdings when they reached KSh15.4 million in value.

He instantly became a multi-millionaire from just a KSh100 bet on an unknown meme coin months earlier.

Using Profits to Change His Life

The massive windfall from perfectly timing Shiba Inu’s exponential rise forever changed Jonas’s financial situation.

He was able to quit his part-time job and focus on his college studies and passion projects. He bought land for his parents to retire on and supported his three siblings’ education.

Jonas even donated KSh1 million to local charities supporting technology access for disadvantaged youth.

He says:

“The profits gave me freedom to pursue what I love while giving back. I feel immensely grateful every single day.”

Despite the riches, Jonas has managed to stay grounded and humble. He continues working towards his degree and career goals.

Key Analysis – What Drove the Astronomical Gains

While many dismiss the rise of Shiba Inu Coin as pure luck and hype, examining key factors provides perspective:

• Extremely low starting valuation – Investing KSh100 into something worth virtually $0 provided nearly unlimited upside.
• Overall crypto/meme mania – The overall speculative frenzy of crypto assets in 2021 spilled over to obscure coins with internet hype.
• Increased exchange listings – As more top exchanges like Binance and Coinbase added Shiba Inu, availability and liquidity rose, further fueling its value.
• Significant community momentum – A committed community of supporters rallied around Shiba Inu Coin, driving engagement.
• Mainstream intrigue – Interest from major brands/celebrities like Elon Musk sparked investor curiosity in Shiba Inu.
• Scarcity – There is a limited supply of 1 quadrillion Shiba Inu coins, of which Jonas owned 200 million.

Essentially, getting in early on an obscure crypto before hype exploded allowed Jonas to ride the coattails of Shiba Inu’s overnight success.

Timing and luck positioned him perfectly.

Lessons Learned – What Jonas Would Do Differently

While immensely thankful for the life-changing wealth, Jonas points out a few things he would do differently knowing what he knows now:

• Take some profits earlier in the rally instead of getting greedy waiting for the absolute peak.
• Invest more heavily in Ethereum and Bitcoin alongside Shiba Inu as more established assets.
• Avoid getting caught up in the emotion – remain calm and stick to a trading plan.
• Not tell friends about the specific coins held to avoid any potential security issues.
• Keep some holdings in cryptocurrency instead of cashing out 100% into fiat currency.

Jonas says:

“My one piece of advice is to take reasonable profit when you have life-changing money on the table. Things can disappear just as quickly as they appeared.”

The Verdict – Lucky Windfall or Possible Replicable Strategy?

In the end, was Jonas just profoundly lucky or can average investors realistically replicate his success to any degree?

The skeptical view is that this was pure luck – a “one in a million” perfect timing of buying an extremely speculative asset right before unprecedented hype. Replicating such outsized returns consistently is near impossible.

However, there is an argument that with the right mentality and methodology, more modest yet meaningful returns are achievable for others:

• Take very small $25 – $100 positions in emerging cryptos with intriguing technology or grassroots traction.
• Avoid the hype and get in early when valuations are near zero.
• Hold for several years, compounding gains from the few breakout winners.
• Rotate gains into more established assets like ETH and BTC for stability.

In all likelihood, the ultra-rapid gains Jonas experienced were a rare statistical outlier.

But his story still reveals that with calculated risk-taking, a long-term outlook, and a bit of luck, life-enhancing wealth is achievable in crypto for ordinary investors.

When asked about beginners looking to replicate his path, Jonas says:

“Go in with eyes wide open, be willing to lose it all, and don’t invest more than you can afford. But a few moonshots could just change your life.”

Read also:

• He Failed Form 4 Three Times. Then He Discovered Cryptocurrency and Retired His Parents
• Former Matatu Tout Uncovers Secret to Earning $5,000 a Month Online From Nairobi