Shiba Inu (SHIB) is among the best-performing cryptocurrencies of the past few years. The asset has rallied by many million percent since its debut in August 2020. If you had invested $100 monthly in SHIB since its launch, you would have invested $4,500 till now. However, your portfolio’s value would have risen to a whopping $143.9 million, a rise of about 3,199,378% (3.19 million percent).
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Furthermore, if you had invested $100 monthly since Shiba Inu’s (SHIB) launch till it hit its all-time high of $0.00008616 in October 2021, you would have invested $1,500. However, in this scenario, your portfolio’s value would have hit $279.8 million, a rise of about 18,655,517% (18.65 million percent).
Can you still become a millionaire with Shiba Inu (SHIB)?
SHIB’s incredible performance in 2020-2021 solidified its image as a millionaire maker. Many early investors made millions of dollars in profit and, in some cases, even billions.
However, Shiba Inu’s (SHIB) price has taken a significant beating since its 2021 peak. The asset has fallen by nearly 71% from its all-time high. Nonetheless, SHIB is predicted to reclaim its 2021 peak very soon. According to CoinCodex, SHIB could surge to $0.00008412 by the end of this month. If SHIB reclaims the $0.00008 level, there is a high probability that it will surpass its 2021 peak.
Also Read: Shiba Inu: Will SHIB Hit a New All-Time High in June 2024?
One of the most significant barriers to Shiba Inu’s (SHIB) price is its massive supply. The 2021 rally was heavily aided by Ethereum co-founder Vitalik Buterin’s SHIB burn. Buterin received half of SHIB’s supply upon launch. However, he decided to burn 90% of the tokens, leading to a significant price spike. The SHIB team is reportedly working on a new burn mechanism, rumored to burn trillions of tokens yearly. If they can drastically reduce the project’s supply, we may witness another 2021-like rally.
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