I bought $5k Shiba Inu and $5k EverGrow in October – here’s what happened

This is not a crypto maximalist article. 

I – like you – read about how Shiba Inu had flipped a $5 investment into $1 million between January and mid May last year. 

But I wasn't one of those lucky people.

When I invested $5,000 into Shiba Inu on October 7th last year I was buying at $0.00002264 – not $0.000000000168. I haven't sold it. I'm a believer in HODLing on, and for better or worse I'm still HODLing Shiba Inu in July 2022.

How many of us were lucky enough to buy Shiba Inu on January 1 2021? And then sell at exactly the peak?

Not me.

But there's a twist to this story that makes me want to share it with you now. On October 7th I also put $5,000 into a small cap cryptocurrency I had read a lot about: EverGrow. 

I truly believe that EverGrow has the potential to give a whole new perspective on cryptocurrency investments. 

I've made back my $5,000 EverGrow investment without selling anything – I've made a lot more.

Want to see what happened?

Let's jump in.

HOLDing Shiba Inu for 10 months in a bull & bear market 

In case you haven't noticed, the price of Shiba Inu is down 87% from the SHIB all-time high of $0.00008.

I bought it as Shiba Inu was rocketing towards its all-time high – but I didn't sell it.

I thought Shiba Inu was going to keep on growing. 

That's why just three months after investing $5,000 in SHIB my portfolio was worth exactly the same. 

Since the start of 2022 the price of Shiba Inu has tanked.

At the time of writing, SHIB is trading at $0.00001128 and I am 50% down on my portfolio with just $2,490 in my wallet.

I was new to the crypto market last year. Now I know that bull markets do not last forever and my best chance of making a decent return was to have sold SHIB the same week I bought it.

Oh well, onwards and upwards.

HODLing EverGrow for 10 months in a bull & bear market 

In July 2022, I made my $5,000 crypto investment back despite buying just before the worst crypto bear market for five years.

How did I do it?

In case you've not heard of it, EverGrow is a reflection token.

To buy it you pay a transaction tax of 14% which means from $5,000 I could only buy $4,300 worth of EverGrow on October 7th.

But here's the thing: everyone pays that transaction tax whether they are buying or selling EverGrow. And an 8% cut of that tax is redistributed to everyone HODLing EverGrow at the time of buy/ sell.

Of course, I am down right now on my initial $EGC investment.

But in total, I've made $12,800 since October just from the rewards paid out from HODLing my EverGrow bag. The benefit is that the $12,800 rewards were paid into my crypto wallet daily in the BUSD stablecoin – not the native token like a lot of reflection cryptocurrencies.

A quick, low-cost transfer and that BUSD was in my Binance account – which is exactly where it was when the crypto market crashed and I could buy up tokens at their lowest price point with even more decent gains to date.

I'd learned a lot after getting punished with my Shiba Inu investment. (Mainly, master price indicators and buy when prices are at the bottom.) EverGrow helped me to turn that defeat into a hugely satisfying victory. 

Why I am going to keep HODLing EverGrow 

One thing I like about EverGrow is you can use math to get a grip on your BUSD passive income.

I worked out that between October 7th to late July 2022, the average daily trading volume of EverGrow has been $3,618,179.

By using the (unofficial) SleekFinance EGC calculator I can see that my EverGrow holding should be earning $1,280 monthly at that trading volume.

Of course, more than half of my time in EverGrow has been during a bearish cycle.

But on the best day of EverGrow trading – over $62 million in a single day –, I received $730 BUSD in my wallet. If that had kept up for just a month I would have made $22,000.

I truly believe that when a bull market returns EverGrow will be getting a daily trading volume well above $60 million. 

Even in late July when crypto prices are 70-90% down from all-time highs the 50th largest token by market cap (MakerDAO) has a daily trading volume of $156 million.

While I wait for great things to come, I'm also continuing to make BUSD without worrying about the underlying value of my EverGrow investment.

Would I recommend buying EverGrow in July 2022?

Don't get me wrong – there are great things happening in the Shiba Inu camp. 

The recent partnerships with Marvel, Disney and Netflix collaborators The Third Floor for the upcoming SHIB.io The Metaverse have me bullish.

The Shiba Inu Collectible Card Game hinted at by Shytoshi Kusama – the Shiba Inu lead developer – in a July blogpost is also exciting. 

For the record, I'm not selling any Shiba Inu. And I've bought some more at ultra-low prices.

But I've also bought some more EverGrow.

Why?

EverGrow is trading at just $0.0000001583 right now. It means that I could get around five times more EverGrow ($EGC) than with my $5,000 investment back in October.

It might take a while for the bull market to return – maybe another 12 months – but imagine if your actions today could be making you $3k in a single month in a year or two?

The EverGrow team has a fascinating roadmap in store. 

• Get a peek into how the world's first cloud-streamed VR gaming platform, The Abstract, is dead set on bring EverGrow to the 50,000+ people in the US alone with a VR headset and not enough computing power to access quality gaming
• See how the EverGrow chairman (leading investment professional Sam Kelly)  regularly talks to HODLers in live AMAs​​
• Have a look at the upcoming LunaSky NFT marketplace where minting costs just $0.20-$0.40 (compared with $15-$50 on the Ethereum-based OpenSea)

What's great is that the profits of these applications will be used to buy back EverGrow and burn it from the supply. Oh, that reminds me – from the 14% transaction tax, 2% is set aside for buyback and burn anyway.

To date EverGrow has burned 53% of its initial supply, meanwhile, the Shiba Inu burn rate has only increased 0.01% in 12 months after Vitalik Buterin burned 41.02% of the SHIB supply in May last year.

NFA/ Do your own research

None of the above is financial advice.

I'm just sharing my thought process with you in case it helps to make smarter, more strategic decisions with your crypto investments.

The bear market had been brutal. 

Had I only invested $5,000 in Shiba Inu and today looked at my portfolio 50% down and no bull market in sight, I'd feel down.

I'd feel even worse about my decisions reading about how people made tens or hundreds of thousands of dollars with Shiba Inu, and feeling the odd one out.

That's why today I wanted to show the step-by-step process of how I did lose money on Shiba Inu but made it back through the fascinating world that is cryptocurrency investing. In this case, it was through the new breed of crypto passive income generators called reflection tokens. 

EverGrow was my saviour.

I'm excited to read how you make great ROI on your investments – whether with EverGrow or not – in the not-too-distant future.