Investors could have earned nearly $99.1 million if they had taken a single-day entry position in Shiba Inu with a $1,000 investment and held it until today. Yes, it sounds unrealistic, but it’s true, and that’s the unbelievable power of the meme currency market. Despite SHIB being down close to 93% from its all-time high of $0.00008616, traders could have still seen a profit of $99.1 million.
So here’s how it goes. On this particular day of November 28, 2020, Shiba Inu had fallen to its all-time low of $0.00000000005637 (10 zeroes), according to SHIB data from CoinGecko. It fully bottomed out at this price, and only skyrocketed from here, deleting five to six zeroes. The dog-themed token is currently trading at $0.00000561 and has knocked out five zeroes from its all-time low in 2020.
That’s an uptick of 99,100,000% (99.1 million percent) from its ATL of $0.0000000000563, which it bottomed out in November 2020. Therefore, if traders had invested $1,000 on that day and held on to it until today, their portfolio would be $99.1 million. That’s literally life-changing gains, and anyone can confidently resign from their job, not having to work a single day in their lives.
The amount is large enough to live a financially stable and comfortable life, even after living flashy and extravagantly. Shiba Inu had a world run and had outperformed leading assets like gold, Bitcoin, Ethereum, the broader US stock index, like Dow Jones, Nasdaq, and the S&P 500. The times were different, and the present time is the opposite of what it was.
Also Read: The Legendary Tale of Shiba Inu: Turned $10 Into $15.7 Million at Peak
Can Shiba Inu Make You Earn Millions Again?
The boat to earn millions in returns has likely sailed, as Shiba Inu remains on the back foot for three years. The hype and buzz for the meme coin have fizzled out, and new and first-time investors are ignoring it. This has led to price stagnation and a relentless decline. Hoping to make millions again in profit can make you live in a fool’s paradise. There is no chance of making big money, unless more than 90% of its circulating supply is burned. That means more than 500 trillion tokens must be sent to the dead wallet, which currently seems impossible.
