Shiba Inu (SHIB) is one of the most popular crypto projects in the market. One of the most significant reasons for SHIB’s incredible popularity is due to the stories of average people making millions with minimal investments. People who got into the project in its early days reaped massive returns within a very short period.
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$1000 Of Shiba Inu Could Have Made You $103 Million
If you purchased $1000 of SHIB right after its launch in August 2020, you could have made generational wealth. If you held on to the tokens and sold them when SHIB was at its all-time high of $0.00008616 in October 2021, you would have made a profit of more than $103 million. Your portfolio would have grown by 10,303,317.815 (10.30 million percent).
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If you continued to hold the tokens till today, your investment would have been worth $38.76 million. In this scenario, your portfolio would have risen by 3,876,266% (3.87 million percent).
Can You Still Become A Millionaire With The Memecoin?
One of the most substantial catalysts for Shiba Inu’s (SHIB) incredible rally in 2021 was Vitalik Buterin’s massive token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the tokens he received and donate the rest to charity. Buterin’s actions led to a significant supply dip, causing the asset’s price to skyrocket as demand was high.
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There are still about 589 trillion SHIB tokens in circulation. The high supply is a significant barrier to SHIB’s price. If the team can undertake another massive burn, we may witness another 2021-like rally. Burns alone may not lead to a massive price spike as it has to be met with high demand as well. An increase in burns and demand could lead to the creation of many more Shiba Inu millionaires.
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