Shiba Inu (SHIB) has lost substantial luster over the last few years. The project had one of the most incredible launches in crypto history, rallying by several million percent within months of its debut. Early investors made massive returns, making millions in profit with minimal investments. However, fans and investors who bought later, or at the top, are still sitting on losses, waiting for SHIB to make another big jump. Let’s discuss if you should move on from your dream of becoming a millionaire with Shiba Inu (SHIB), or is there still time to make it big.
Should You Say Goodbye To Your Shiba Inu Millionaire Dreams?
One of the primary reasons for Shiba Inu’s (SHIB) incredible 2021 rally was the famous burn by Vitalik Buterin. The Ethereum co-founder received half of SHIB’s entire supply upon launch, but decided to burn 90% of the coins he received, while donating the rest to charity. SHIB’s association with Buterin led to a massive rise in demand, while the burn substantially reduced the project’s supply. As a result, SHIB’s price skyrocketed, hitting an all-time high of $0.00008616 on October 28, 2021.
Despite Buterin’s massive token burn, Shiba Inu (SHIB) still has about 589 trillion coins in circulation. The massive supply presents a substantial barrier to SHIB hitting very high prices. Moreover, another Buterin-style burn is close to impossible right now.
However, although it may be difficult to make millions with Shiba Inu (SHIB) with minimal investments, you could still potentially get decent returns in the future. The crypto market has faced substantial challenges over the last few months. Nonetheless, things may recover once the larger economy is back in form and global geopolitical tensions cool off.
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Additionally, the Shiba Inu (SHIB) team has worked on several fronts to bring more use cases for the project. The Shibarium network is home to several applications that could aid in SHIB’s price surge. The team has also revealed the ShibOS platform, which aims to help businesses transition to web3. The developments could bring more adoption for Shiba Inu (SHIB), which could potentially push SHIB to a new peak.
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