Letter: Local Boy Makes Thousands Off Meme Coin Craze

Submitted by Carter Johnson.

It’s been over half a year since the meme coin Shiba-Inu, hit its all-time high, Steilacoom High School Alumni Eric Cooper Invested just 1,000 Dollars in the currency back when it was priced at 0.00000666 back in September 2021, just 1 month later his investment hit over 10,000 dollars. Then secured over a 9,000 dollar profit, after having a chat with him about what got him started in Crypto he told me the following ” I heard of Shiba, and saw the potential when I joined their Reddit, a community of over half 1 million people that just wanted the price of this crypto token to make them all rich. I thought that was something I could get behind so I threw about 1,000 dollars into it, it was some money I have been accumulating over my paychecks, and said why not? worst-case scenario I lose about 500 dollars.

I invested on this public trading app called Coinbase which lets you trade other cryptos, let me tell you at that point in my life I was glued to my phone like I never was before. I told everyone I knew to invest in it like my friend Dakota who runs a thousand-dollar business in Connecticut to invest what he could into it. I would constantly check my phone and see it go up and down go up and down creating this unhealthy addiction of checking the price, but when I had an all-time high I was jumping up and down in my house, my neighbors might’ve thought I was crazy but I was so happy I thought this was the moment that I would become a millionaire. Coming back down to reality, after securing my profit after a hit it’s high I donated about half of my profit to the American Cancer Society due to personal reasons. I am no longer invested in Shib, I no longer see any use in it, it was a quick pump and dump, but I enjoyed the ride this experience open up my horizons to the crypto market.

Looking back on the experience I only wish I put in more, but that’s the greed in me talking, I’m happy to grow as a person, and learn how financial markets work and how to be smart while investing and not investing in meme stocks or meme coins after the hype because that’s how you can get burned real bad. I still invest in crypto to this day but not pulling close to the 10x profit margin I once had.” I wanted to highlight this story because you never know who lives in this town I call home Steilacoom because you may see a young high schooler and you may think that he is up to no good on their phone or just wasting their time but they could be investing, or doing other things centered around there work. I hope you enjoyed reading this and are able to get to meet Eric Cooper he is a fine young man who can certainly hold a conversation like some kids that cant even manage to get out a word.