My aunt put her savings in Shiba Inu after I boasted of making a fortune – she ‘lost’ £35k in a day & won’t speak to me

A MAN has told how he convinced his aunt to invest her savings in Shiba Inu crypto after his success - only for her to lose £35,000 in just one day.

The anonymous bloke had inspired the 47-year-old to take a gamble after bragging about the fortune he had made with the meme cash.

But his boasting backfired shortly after she handed over £150,000 for him to snap up some Shiba Inu coins.

The Reddit user shared his cautionary tale on the popular forum as his overzealous aunt was stung by the highly volatile value of crypto.

He claimed after making substantial "gains" with just an $85 investment, his mum's sister was keen to get in on the cash.

The amateur crypto enthusiast had taken advantage of the Shiba Inu coin hitting highs of $0.00008.

However, as is often the way with notoriously fickle crypto currencies, the coin quickly saw its value crash to $0.00006.

The 25 per cent dip would slash the value of her investment by around $50,000 (£36,000) - and salvaging the money is difficult as the funds are now locked into Shiba.

And while the coin then recovered to around $0.00007, the sudden turn around on the coin has not impressed the Reddit user's aunt.

The user claimed his aunt dumped in all her savings and was left refusing to talk to him as she saw its value sliced down "like a baby tree".

"She heard me and my brother talking about gains.. then wired 200k to any account and invested it," he wrote.

"Stupid is as stupid does sir... That's why she lives with my mom. Shes kinda slow when it comes to investing."

However, he doubled down that he believes the investment was a good idea and soon she will be "dumb rich".

And he revealed the two began speaking again as Shiba Inu began to recover, with him telling her to "hold" until the end of the month.

Other Reddit users were less impressed by his move, warning him he should never give financial advice to family.

And they were especially shocked when the user claimed he had only been investing for three months yet was already dishing out guidance.

You should still never invest more than you can afford to lose.

SHIBArmy user

He also claimed that it was his aunt's first time investing and she had a habit of playing scratch cards.

One user commented: "You should still never invest more than you can afford to lose.

"Had you told her that, she'd have no reason to be mad at you. That is exactly what I say to people.

"Don't invest more than you're willing to lose, and do your own research so you can't get mad at me if it doesn't work out."

Another user added: "She should of maybe dumped 20k in vs 200k. Sounds like she is a bit greedy."

Others wrote "that’s not investing, that’s gambling" and "she needs to understand how volatile the crypto market is".

CRYPTO DANGERS

And further users mused "maybe the worst financial move I’ve ever heard of" and "I feel you. That’s why I never tell anyone to invest. Nobody".

Shiba Inu is one of the most popular cryptocurrencies - with the since its inception in 2020.

But cryptocurrencies are extremely volatile and can be incredibly risky to invest in.

Unlike other types of investment, crypto is not regulated so you don't have protection if things goes wrong.