Shiba Inu (SHIB) is undoubtedly one of the most popular cryptocurrencies in the market. The asset had an incredible run during the 2021 bull market, rallying by many million percent since its launch in August 2020. After SHIB hit an all-time high of $0.00008616, many early investors turned into multi-millionaires and, in some cases, billionaires.
If you had invested $1000 weekly into SHIB since its launch in August 2020, you would have put in $18,900 till now. However, the portfolio’s value would have skyrocketed to $626.46 million, a growth of 3,314,535% (3.3 million percent).
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Furthermore, if you had put in $1000 weekly till Shiba Inu (SHIB) hit its all-time high in October 2021, you would have invested $6,200. However, in this scenario, your portfolio would have skyrocketed to a whopping $1.16 billion, growing by 18718732.76% (18.71 million percent).
SHIB’s stellar performance in 2020-2021 solidified its reputation as a solid cryptocurrency. Moreover, new investors fell in love with the project, hoping to make it big in crypto. However, the popular dog-themed crypto has been on a downward trajectory since its 2021 highs, albeit it made a slight recovery last month.
Can you still become a millionaire with Shiba Inu (SHIB)?
Although SHIB has come a long way since its August 2020 levels, fans and investors still pursue higher prices.
According to CoinCodex, SHIB could enter a bullish phase very soon. The platform anticipates SHIB to hit $0.00007471 on May 13, 2024. If the asset can hold the price at this level, we may witness a new all-time high for SHIB.
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Furthermore, the SHIB team is working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the team can reduce the asset’s supply, we may witness another 2021-like rally for the popular dog-themed crypto.
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