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My dad has made enough on SHIB to pay his mortgage for a year, and he still won't sell.

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by COINS NEWS 235 Views

My dad bought her in May of 2021, and when SHIB hit its ATH, I really tried to convince him to pull profits. He was up a huge amount, but he didn't sell, and down it went. He doesn't grasp market cap, I keep trying to explain to him (because he thinks SHIB can go to $.01) how insanely high the market cap would have to be for that to happen.

First off, there's 589 trillion coins in circulation. He says things to me like "they burn billions of coins". I have to keep reminding him that it's the equivalent of $10K or less.

Second, for the price of SHIB to get to one cent, then the total market cap has to be a minimum of $5.89 trillion which is almost five times more than Bitcoin, more than ten times higher than Ethereum, and even higher than the market caps of Apple and Tesla.

So now, he's up again, a lot, like I said, enough to pay his mortgage for a year, and still, he continues to hold. It's rather comical at this point. I never thought my father would be diamond handing a meme coin in my life. But here we are.

submitted by /u/ipetgoat1984
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