Shiba Inu (SHIB) has been around for just over three-and-a-half years. When it launched in August 2020, SHIB aimed to rival the original memecoin, Dogecoin (DOGE), which launched in 2013, almost 11 years ago. Although SHIB has not overtaken DOGE’s market cap, the dog-themed crypto has come a long way in its short journey.
From its launch in August 2020 to its all-time high in October 2021, SHIB’s price rallied by many million percent. If you had invested $200 weekly in Shiba Inu (SHIB) since its launch, you would have put in $31,400 till January 2024. However, the value of the investment would have skyrocketed to $45.59 million. The increase in value translates to a growth of over 145091%.
Also Read: Shiba Inu: What will SHIB Prices Be If Bitcoin Hits $200,000?
Moreover, if you had invested $200 weekly till SHIB’s all-time high on Oct. 28, 2021, you would have put in $9,800. The value of the investment, however, would have been a whopping $162.39 million, a growth of 1656965% (1.65 million percent).
Can you still be a millionaire with Shiba Inu (SHIB)?
Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. However, many investors wonder if they have missed the boat with SHIB. The token’s price struggled throughout 2023 despite having a significant layer-2 network launch.
Also Read: Shiba Inu: Can SHIB Reach $0.05 in 2024?
Nonetheless, fans hope that the memecoin will make a comeback in 2024. You can still become a millionaire with SHIB. However, there are some factors to consider. Firstly, SHIB’s epic rally in 2021 had Vitalik Buterin’s massive burn for support. Buterin received half of SHIB’s supply upon launch and decided to burn 90% of the tokens he received. Buterin’s decision led to a significant reduction in SHIB’s supply. The project needs to carry out a similar burn for SHIB to rally as it did in 2021.
Secondly, Shiba Inu (SHIB) will need an uptick in mass adoption. With the launch of the Shibarium network, we may see more applications built on the SHIB ecosystem. Consequently, it may lead to more people using SHIB.
Both developments could propel SHIB’s price to new heights.