Shiba Inu (SHIB) seems to be making a recovery after the recent market crash. The asset has made a healthy turnaround following a market-wide resurgence. SHIB has rallied 7.3% in the weekly charts, 11.9% in the 14-day charts, and 4.9% over the previous month. Despite the recovery, the asset is down 0.6% in the daily charts and 45.4% since late April 2024.
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Just $100 in Shiba Inu Becomes $1.8 Million Today
SHIB is among the most successful cryptocurrency projects in the market. The asset has come a long way in its four-and-a-half-year history. Since its launch in August 2020, till it hit an all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent. Several early investors made massive returns with minimal investments. Many people quit their jobs to live out their dreams after making it big with SHIB.
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If you had put in $100 in Shiba Inu (SHIB) on Aug. 2, 2020, the investment would have been worth $1.85 million today. Your money would have grown by 1,857,890% (1.85 million percent).
SHIB hit an all-time high of $0.00008616 on Oct. 28, 2021. If you had sold the $100 worth of coins when SHIB was at its peak, you would have made more than $10 million in profit. Your money would have grown by 10,303,317.81% (10.30 million percent).
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One of the biggest drivers for Shiba Inu’s (SHIB) incredible rally in 2021 was Vitalik Buterin’s token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. At the time, there was substantial demand for SHIB as well. The supply dip and the high demand led to a massive price spike.