Shiba Inu, a popular cryptocurrency, has seen significant growth since its launch in August 2020. Early investors who have held onto their investment, known as HODLing in the crypto world, have reaped substantial rewards.
Shiba Inu gained recognition in the crypto ecosystem and rode the bullish cycle, which propelled the price of Bitcoin to its all-time high above $69,000 in November 2021. On October 28, 2021, Shiba Inu also reached its own all-time high of $0.00008845, according to CoinMarketCap. However, the token has experienced a decline since then.
Let’s consider an investor who purchased $1,000 worth of Shiba Inu when its price was the lowest recorded at $0.00000000008165 on September 1, 2020. With this investment, the investor would have bought 12,247,397,000,000 (12.247 trillion) SHIB. If the investor held onto the tokens until Shiba Inu reached its all-time high and erased six zeroes after the decimal point, their investment would have been worth $1,083,282,264 ($1.083 billion).
Early investors in Shiba Inu witnessed significant gains, with some making millions of dollars. However, since reaching its all-time high, the price of Shiba Inu has dropped considerably and currently trades at $0.000009046, reflecting a 0.48% increase in the past 24 hours. For an investor who bought the coin at the lowest recorded price and still holds over 12.24 trillion SHIB, the $1,000 investment would now be worth $110,789,953 ($110.789 million).
Despite the initial success, Shiba Inu’s price growth has slowed down, with the token experiencing an 89.76% decline from its all-time high. Proponents of the cryptocurrency doubt the chances of a significant price surge in the near future. While there is anticipation for Shiba Inu to reach the $0.01 price mark, current projections suggest this may occur between 2040 and 2050.
Shiba Inu has a unique history, particularly concerning its price and the time it took to gain traction. While the potential for becoming an overnight millionaire from small investments may have diminished, many still consider Shiba Inu as a cryptocurrency worth monitoring for longer-term growth.