Shiba Inu (SHIB) rose to fame in 2021, when the asset surged millions of percent, reaching an all-time high. Early investors made millions of dollars in profits with minimal investments.
If you had been investing $1 in SHIB every month since August 2020, you would have invested $46 so far. Over the past 3 years and 10 months, your investment would have grown to $1.5 million, a growth of approximately 3,292,889% (3.2 million percent).
Source: CryptoDCA
Also read: Shiba Inu: Can SHIB reach $0.001 if 400 trillion SHIB is burned?
If you had been investing $1 every month starting from August 2020 until Shiba Inu reached its all-time high in October 2021, you would have invested $15. In this case, the value of your portfolio would have skyrocketed to $2.7 million, a growth of 18,655,517.53% (18.6 million percent).
Source: CryptoDCA
Can you still become a millionaire with Shiba Inu?
Source: Pixabay
The price of SHIB has experienced a significant decline since its peak in 2021. The asset has dropped nearly 80% from its historical high of $0.00008616 reached on October 28, 2021.
Also read: Shiba Inu: How high can SHIB go if the market cap reaches $100 billion?
The massive supply of the project 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 massive burn of SHIB tokens was one of the key drivers behind SHIB’s astonishing growth in 2021. Buterin received half of the project’s coin supply at launch but chose to burn 90% of it. Due to Buterin’s action, the price of SHIB surged significantly.
If another significant burn occurs, the price of SHIB could increase. The Shiba Inu team is developing a new burning mechanism that will burn trillions of tokens annually.
