Early investors of Shiba Inu (SHIB) have made generational wealth with the cryptocurrency. The asset’s price skyrocketed during the 2021 bull run. SHIB’s incredible performance solidified its status as a “millionaire-maker.” Regular people with average jobs made millions with minimal investments. Many people could retire from their jobs to live out their dreams.
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Just $10 in Shiba Inu Could Have Made You $1 Million
If you purchased $10 worth of SHIB on Aug. 2, 2020, and sold the coins when the asset was at its peak on Oct. 28, 2021, you would have made more than $1 million in profit. Your investment would have grown by 10,303,317.81% (10.30 million percent).
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Shiba Inu’s (SHIB) price has fallen by more than 84% from its all-time high of $0.00008616. The asset has struggled to gain momentum over the last few years. Despite the lackluster performance, early SHIB investors have still made massive returns. If you had continued to hold the $10 worth of coins, the investment would have been worth $177,073. In this scenario, your investment would have grown by 1,770,637.16% (1.77 million percent). Although it is a lot less than $1 million, it is still an incredible return on the initial investment.
Can You Still Make It Big With The Memecoin?
One of the most substantial barriers to Shiba Inu’s (SHIB) price is its massive supply. There are about 589 trillion SHIB tokens in circulation. For the asset to reach much higher prices, the circulating supply must go down.
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One of the most significant drivers for SHIB’s 2021 rally was Vitalik Buterin’s token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the tokens he received. His actions led to a substantial supply dip. The drop in supply caused a massive price spike.
