Shiba Inu (SHIB) has been among the best-performing cryptocurrencies of the last five years. Since its launch in August 2020 till it hit an all-time high in October 2021, SHIB’s price rallied by many million percent. The asset has turned several early investors into multi-millionaires.
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Just $100 In Shiba Inu Became Nearly $2 Million In 5 Years
If you had invested $100 in Shiba Inu (SHIB) on Aug. 2, 2020, the investment would have grown to $1.9 million today. Your investment would have grown by 1,966,536% (1.9 million percent).
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SHIB hit an all-time high of $0.00008616 on Oct. 28, 2021. If you had sold your $100 worth of SHIB when the asset was at its peak, you would have made $10.30 million in profit. In this scenario, your investment would have grown by 10,303,117% (10.30 million percent).
Can You Still Turn $100 Into $2 Million By 2030?
If you purchase $100 worth of Shiba Inu (SHIB) today, you will receive about 6,506,659.53 (6.50 million) coins. For 6.50 million coins to be worth $2 million, the price of each coin has to reach about $0.3073. SHIB’s price has to rally by 1,999,249.3% (nearly 2 million percent). While the figure is significant, it is not something SHIB has not done in the past.
According to Changelly, SHIB will hit the $0.3073 mark sometime after 2050. The platform anticipates the asset to trade at a maximum price of $0.03319668 in 2050.
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One significant barrier to Shiba Inu’s (SHIB) price is its massive circulating supply. The asset could climb to the $0.3073 target much sooner if the team can reduce the project’s supply. One catalyst for SHIB’s incredible rally in 2021 was Vitalik Buterin’s token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the tokens he received. His actions led to a massive supply dip while demand was high. The move caused SHIB’s price to skyrocket overnight.
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