Shiba Inu has turned an investment of $150 into a whopping $2.5 million on Wednesday. SHIB was launched on August 1, 2020, and an investment of $150 made then could have fetched traders trillions of tokens. Holding on to the investment from then until today could have rewarded traders with millions in profits.
The latest data from Changelly shows that $150 in Shiba Inu back then is worth $2.5 million today. That’s a surge of 1,716,535% (1.7 million percent) in the last 58 months and is among the top-performing assets. No other financial asset has delivered this much returns in the last five years except for SHIB.
A handful of investors have made life-changing gains in Shiba Inu while some even made generational wealth. Early investors who took an entry position reaped all the rewards that the dog-themed token had to offer. SHIB was extremely bullish between 2020 to 2021 and generated massive gains during this timeframe.
Also Read: $10K in SHIB Could Hit $106K by 2025 as 1.5M Back Shibarium DAO
However, after touching an all-time high of $0.00008616 in October 2021, where it spiked 1,000% in a month, SHIB began declining in value. It never reclaimed its ATH in over three years despite repeated attempts in the charts. The cryptocurrency market saw a few rallies lately but failed to push SHIB above the threshold.
The ERC-20 token, which is running on the Ethereum blockchain, has seen its fame and hype dwindling. It was the most talked about token three years ago, and now investors are showing their backs on it. However, it needs another push in the indices, a spike of four digits to get people talking about it again. Will Shiba Inu surge again like it did between 2020 and 2021? We will provide a price prediction in this article so you can gauge the technical pointers.
Shiba Inu: $150 Investment Turns $2.5 Million, Can the Cycle Repeat?
The cycle from 2020 to 2021 might not repeat as Shiba Inu is now depending on the broader market’s performance. The main point stunting its growth is the 549 trillion circulating supply, which feels unending and everlasting. There’s no tool in the world that can burn this many tokens and send them to the dead wallet.
Shibarum was considered the only vehicle that could steer Shiba Inu to the $0.01 path by burning trillions of tokens. After its release in August 2023, the layer-2 network has burned only 1 billion tokens in two years. That’s close to just $15,000 worth of tokens and is a small number compared to the towering 549 trillion supply.
Also Read: Here’s SHIB’s Price If It Reclaims 2021 Market Share at $40T Cap
The layer-2 solution must become more aggressive and start sending trillions of tokens to the dead wallet. For that to happen, network activity in Shibarium must be brimming with newer projects and transactions. Transactions on the Shibarium network are cheap, allowing traders to buy and sell the token at minimal fees.
Therefore, transactions must increase by a thousandfold for Shibarium to even start burning billions of tokens per day. Shiba Inu is lagging in all these developments and has little to no chance of surging again like it did in 2020 and 2021. The boat of generating life-changing gains has sailed, and traders need to wait for decades to make decent money.
SHIB is also facing tough competition in the meme currency segment lately. It was only up against Dogecoin back then, and now has to compete with Pepe, Bonk, and other meme coins. Investors are spoiled for choice in the meme segment, and Shiba Inu is no longer the sole option. In order to survive, Shibarium needs to pull its socks up and send trillions of SHIB tokens to the deal wallet.
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