At the height of Shiba Inu’s popularity, a trader could have become a millionaire with just a $12 investment. as per a report by leading crypto price-tracking platform, CoinGecko.
Conducting an analysis of 10 meme coin price returns, CoinGecko found that SHIB yielded the highest returns during its bullish phase.
To reach $1 million in meme coin holdings, the minimum initial investment that is needed ranges from $11.87 for Shiba Inu.
On the other hand, investing in the original meme coin Dogecoin on December 15, 2013, required $819.51 to reach millionaire status.
For those who first become aware of the meme coin craze in 2021, Floki Ini, one of the trendiest meme currencies, would demand a larger investment of at least $4,507.98 to become a millionaire.
Other meme currencies, like Dogelon Mars [ELON], Bonk [BONK], or Baby Doge Coin [BABYDOGE], would have cost significantly more as well.
According to the CoinGecko study, “an investor would have had to put between $20,838.51 to $28,297.05, to reach $1 million in either of those 3 meme coins”.
The report also mentioned other rising memecoins like Pepe [PEPE], Wojak [WOJAK], and ArbDoge AI [AIDOGE] which it claimed brought the lowest percentage price returns so far, from the hypothetical purchase date to the all-time high date.
“As a result of the comparatively modest price gains between 424.7% to 531.7%, an investor would have needed upwards of $158,311.59 to become a 2023 meme coin millionaire”, CoinGecko added.
Meanwhile, the Shiba Inu ecosystem has made significant strides in recent weeks. In a limited amount of time, several key players in the meme coin ecosystem have made some crucial announcements.
According to well-known Shiba Inu influencer Lucie Sasnikova, a cross-chain bridge function called “Shibarium Bridge” is currently receiving the finishing touches from the Shibarium team.
Shiba Inu Influencer- “Shibarium Bridge Is In Testing Mode”
The new functionality, which is at the moment in testing mode, is intended to improve the layer 2 solution.
Based on the report shared by Sasnikova, the “Shibarium Bridge” will be compatible with the Ethereum blockchain and can actualize the ETH and SHIB cross-chain SWAP functions.
The announcement has generated curiosity and anticipation among community members who are eager to learn more about this new feature.
Even though Shibarium’s mainnet debut has not yet happened, the news has sparked a great deal of excitement and enthusiasm.