Shiba Inu (SHIB) has been among the best-performing assets of the last four years. From its launch in August 2020 until its all-time high in October 2021, SHIB’s price rallied by many million percent. Early investors made millions of dollars in profit if not billions.
If you had invested $1 into SHIB every month, you would have invested $45 till now. However, the portfolio’s value would have skyrocketed to over $1 million in just a few years, a growth of 2,561,021% (2.5 million percent).
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Furthermore, if you had invested $1 into Shiba Inu (SHIB) every month till it hit its all-time high of $0.00008616 in October 2021, you would have invested $15. However, your portfolio’s value would have skyrocketed to almost $2.8 million, a growth of 18,655,517.5% (18.6 million percent)
SHIB’s performance in 2020-21 solidified its status as a millionaire maker. However, the asset has struggled to gain momentum in the last few years.
Can you still become a millionaire with Shiba Inu (SHIB)?
SHIB is currently down by over 71% from its 2021 peak. The asset moved forward in March when Bitcoin (BTC) hit a new all-time high. However, the rally was short-lived. SHIB is an incredibly popular cryptocurrency, especially among new and young investors. However, the asset’s lackluster performance has hindered its image.
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One of the most significant catalysts for Shiba Inu’s (SHIB) 2021 rally was Vitalik Buterin’s massive SHIB burn. Buterin received half of SHIB’s supply upon launch. However, the Ethereum co-founder decided to burn 90% of the tokens he received. The sudden drop in supply led to a massive price spike. Nonetheless, SHIB still has a large circulating supply. If the SHIB team can reduce the asset’s supply, we may witness another 2021-like rally.