The cryptocurrency industry witnesses the arrival of hundreds of new assets every day. While some make it big a few others fade away. Amidst this, the market is also home to several sketchy assets that are introduced to scam the community. But Shiba Inu (SHIB) is an asset that stood out for a lot of reasons. Initially, the asset’s ability to turn the fortunes of the average Joe was the primary reason behind its popularity. But now, the rising utility and innovations in the SHIB network have been a game-changer. This article dives into how much Shiba Inu has grown since its inception.
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Shiba Inu’s Growth Rate
Shiba Inu made its debut back in 2020. As the community was slowly recovering from the pandemic, the world was introduced to SHIB. After a slow start, the second-largest meme coin surged to an all-time high of $0.00008845 in October 2021. In terms of price, SHIB has recorded a 1581924.65% uptick since its initial days.
During the time of writing, the meme coin was trading at $0.00002112. This was after recording a nearly 2% drop over the past 24 hours. Sadly, the asset’s weekly loss stood at 7.23%. Currently. the meme coin is 76% below its all-time high.
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Revisiting Initial Investments
An investor would have 7.496 billion tokens if they bought $10 worth of SHIB in August 2020 at a price of $0.000000001334 per token. This initial $10 investment would still be worth $3.77 million at the current price. It is quite evident that a meager $10 could have changed the financial status of an investor.
In addition, an initial investment of $100 in Shiba Inu would have yielded 74.96 billion SHIB tokens. Taking the current pricing of SHIB into consideration, the 74.96 billion tokens are worth $37.65 million. The meme coin is expected to witness exponential growth over the next couple of years. A dainty investment made today could bring in life-changing returns in the future.
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