Shiba Inu (SHIB) has had an incredible run in its 4-year history. The dog-themed cryptocurrency was among the best-performing assets during the 2021 bull run. SHIB’s price has risen by many million percent since its launch in August 2020. Several early investors have made millions of dollars in profit with minimal investments. Regular people with average jobs made generational wealth with SHIB.
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$41 Worth Of Shiba Inu Becomes $1 Million
If you put $41 into SHIB in August 2020, the investment would have grown to more than $1 million today. Your portfolio’s value would have risen by 2,472,984% (2.47 million percent).
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SHIB hit an all-time high of $0.00008616 on Oct. 28, 2021. If you had sold your $41 worth of SHIB when the asset was at its peak, you would have made $4.22 million. In this scenario, your portfolio would have grown by 10,303,317.81% (10.3 million percent).
Why Did The Asset Rally So High?
SHIB is one of the most popular cryptocurrency projects. The asset’s massive returns are one of its popularity drivers.
One substantial catalyst for SHIB’s incredible rally was Vitalik Buterin’s token burn. The Ethereum co-founder got half of SHIB’s supply upon the project’s launch. Buterin decided to burn 90% of the tokens he received. At the time, SHIB’s demand was pretty high. The high demand and the dip in supply led to a significant price spike.
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Shiba Inu (SHIB) has struggled to regain its 2021 momentum. The project still has about 589 trillion tokens in circulation. The high supply is one significant barrier to the asset’s price. If the team can undertake another big burn, we may witness another 2021-like rally.
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