Shiba Inu (SHIB) stands out as one of the most prominent cryptocurrencies in the current market landscape. This memecoin made its debut in August 2020 and experienced an extraordinary surge, rallying by a staggering percentage within just one year of its launch. Its pinnacle came over two years ago, on October 28, 2021, when it reached its all-time high.
Early investors in Shiba Inu saw unprecedented returns, with some individuals even amassing fortunes in the billions. If an individual had opted to invest $100 monthly in Shiba Inu (SHIB) since its inception, their total investments would have amounted to approximately $4,100 to date. However, the value of this portfolio would have skyrocketed to over $50.4 million, marking an astonishing growth of 1,231,379% (1.23 million percent).
Alternatively, if the same investor had chosen to invest $100 weekly in SHIB, their total investments would have reached $17,900. The value of this investment would have surged to an impressive $204.9 million, reflecting a remarkable growth rate of about 1,144,671% (1.14 million percent).
Furthermore, had an investor committed to investing $100 monthly in SHIB until it reached its all-time high in October 2020, their cumulative investments would have totaled $1,500. Nevertheless, the value of this portfolio would have surged dramatically to $279.8 million, boasting an extraordinary growth rate of 18,655,517% (18.65 million percent).
Similarly, if an individual had invested $100 weekly in SHIB until the asset peaked in 2021, their total investments would have amounted to $6,200. However, they would have reaped staggering returns of $1.16 billion.
Shiba Inu (SHIB): Can It Still Make You a Millionaire?
Numerous investors speculate that they might have missed out on the SHIB opportunity. Early entry often plays a pivotal role in achieving substantial gains with an asset. Nonetheless, many enthusiasts of SHIB remain optimistic about its potential for further expansion.
The team behind Shiba Inu (SHIB) has disclosed intentions to introduce a new token burn mechanism, purportedly targeting the incineration of trillions of tokens annually. The substantial supply of SHIB currently acts as a hindrance to the token’s growth. Should the team successfully diminish the supply to a significant extent, we could witness a surge in the asset’s value. However, token burns alone cannot guarantee an increase in SHIB’s price; the project necessitates broader adoption as well.