There is no denying Shiba Inu’s (SHIB) reputation as a “millionaire-maker.” The dog-themed cryptocurrency rallied by many million percent during the 2021 bull run, turning several early investors into multi-millionaires.
While many believe it takes a significant investment to become a millionaire, you could have become one with SHIB for as little as $1 a month.
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The Power of Small Investments in Shiba Inu
If you had invested $1 monthly in Shiba Inu (SHIB) since its launch in August 2020, you would have invested $46 until now. Despite the low investment, your portfolio’s value would have grown to $1.22 million, a growth of about 267,129%.
Investment Growth During the Bull Run
On the other hand, if you had invested $1 monthly till SHIB hit an all-time high in October 2021, you would have put in $15. In this scenario, your investment would have grown to $2.79 million, a rise of about 18,655,517% (18.65 million per cent).
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Can You Still Become a Millionaire with SHIB?
One of the most significant catalysts to Shiba Inu’s (SHIB) incredible rally in 2021 was Ethereum co-founder Vitalik Buterin’s massive token burn. Buterin received half of SHIB’s supply upon launch and decided to burn 90% of the tokens he received. His actions led to a drastic drop in supply and, consequently, a price rise.
Also Read: Vitalik Buterin’s Salary: How Much Does the Ethereum Founder Earn
Current Supply and Future Prospects
There are still about 589 trillion SHIB tokens in circulation. The ample supply is a substantial barrier to the asset’s price. If the project can drastically reduce its supply, the asset’s price will likely witness another 2021-like surge.
The SHIB team reportedly works on a new burn mechanism, which is rumoured to burn trillions of tokens yearly. If successful, we may see the creation of many more SHIB millionaires.
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