Shiba Inu (SHIB) rose to fame in 2021 when the asset rallied by many million percent and hit an all-time high. Early investors reaped millions of dollars in profit, with minimum investments.
If you had invested $1 every month in SHIB since August 2020, you would have put in $46 so far. The investment would have grown to a whopping $1.5 million over the last 3 years and 10 months, a growth of about 3292889% (3.2 million percent).
Also Read: Shiba Inu: Can SHIB Hit $0.001, If 400 Trillion SHIB are Burned?
If you had invested $1 every month from August 2020 till Shiba Inu hit an all-time high in October 2021, you would have put in $15 till now. In this scenario, your portfolio’s value would have skyrocketed to $2.7 million, a rise of 18655517.53% (18.6 million percent).
Can you still become a millionaire with Shiba Inu?
SHIB’s price has taken a substantial beating since its 2021 highs. The asset is down by almost 80% from its all-time high of $0.00008616, which it attained on Oct. 28, 2021.
Also Read: Shiba Inu: How High Can SHIB Go If Market Cap Hits $100 Billion?
The project’s enormous supply is one of the main obstacles to Shiba Inu’s pricing. Currently, there are 589 trillion SHIB tokens in circulation. Ethereum co-founder Vitalik Buterin’s enormous SHIB burn was one of the major drivers of SHIB’s amazing 2021 rise. At its launch, Buterin was given half of the project’s supply of coins, but he chose to burn 90% of them. The price of SHIB increased largely as a result of Buterin’s action.
The price of SHIB might rise if there is another significant burn. Shiba Inu team is developing a new burn mechanism that will burn trillions of tokens every year.
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