Shiba Inu (SHIB) is full of rags-to-riches stories. Many early investors made millions in profits by investing as little as $1500 in SHIB. The sudden rise in wealth of these investors caught the eye of the crypto community. Many caught wind of SHIB early enough to make it big, while others got in a little too late.
If you had invested $100 every month from Shiba Inu’s (SHIB) launch in August 2020 till the asset reached its all-time high in October 2020, you would have put in $1500. However, the portfolio’s value would have spiked to $279.83 million. The profit represents a growth of 18,655,517% (18.65 million percent).
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Moreover, if you had made a weekly $100 investment in SHIB from August 2020 to October 2021, you would have put in $6200. However, the investment would have grown to an eye-watering $1.16 billion.
SHIB’s performance from 2020 to 2021 was meteoric, outperforming any stock, commodity, or cryptocurrency.
Is it too late to get into Shiba Inu (SHIB)?
SHIB’s price has been on a downtrend after hitting its 2021 peak. The asset is down by over 89% from its all-time high of $0.00008616. Several external factors played a role in SHIB’s epic 2021 rally. Firstly, the crypto market was booming with investor sentiment. Other assets were also rallying. Bitcoin (BTC) hit an all-time high soon after SHIB.
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Secondly, Ethereum (ETH) co-founder Vitalik Buterin burned almost half of Shiba Inu’s (SHIB) supply, significantly pushing the asset’s price. Buterin received half of SHIB’s supple upon launch. However, the programmer decided to burn 90% of the tokens, donating the rest to charity.
Therefore, for SHIB to have another 2021-like bull run, it will need a similar environment. The crypto market has to enter a bull run, and the SHIB team needs to reduce the project’s supply.