Shiba Inu (SHIB) is not only one of the most popular cryptocurrencies but one with some of the highest returns, given an investor got into it in its early days. Many early investors of SHIB have reaped millions in profit and, in some cases, even billions.
If you invested $10 weekly into SHIB from August 2020 till the token reached its all-time high on Oct. 28, 2021, you would have put in $490. However, the portfolio’s value would have skyrocketed to about $3.15 million, a growth of 643,527%.
Furthermore, if you had continued to invest $10 weekly into Shiba Inu (SHIB) till today, you would have put in $1,570 till now. The value of the investment would have surged to around $768,065, with a growth of 48,821%.
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Either way, being an early investor in SHIB would have reaped profits by many multiples.
Can you still become a millionaire with Shiba Inu (SHIB)?
Many investors believe they may have missed the boat with SHIB. However, some think there is still time to make it big with the popular meme coin. SHIB fans, popularly called the SHIB Army, hope to take the asset to above $0.10, also known as the 10-cent dream.’ However, there are some barriers to reaching $0.10.
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Firstly, SHIB has a massive supply. The project needs to significantly reduce the number of tokens in circulation for its price to hit the $0.10 target. One of the most significant catalysts for SHIB’s 2021 rally was Ethereum co-founder Vitalik Buterin’s massive SHIB burn. Buterin received half of SHIB’s supply upon launch. However, the programmer decided to burn 90% of the tokens. Buterin’s decision had a positive impact on SHIB’s price.
Secondly, Shiba Inu (SHIB) needs more adoption globally. Increased burns and high adoption will significantly help the asset’s price.