Shiba Inu (SHIB) has undoubtedly been relevant throughout the years of its existence. The second largest meme coin entered the market as “Dogecoin Killer.” While DOGE remains unfazed, SHIB started garnering increased popularity due to its utility. In addition, investors who entered the market during the asset’s early days managed to change their fortune. As SHIB stands as one of the top performers of 2024, the article dives into the potential returns on an investment made in 2020.
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Looking Into Shiba Inu’s Current State
Shiba Inu first entered the market back in 2020. As the pandemic set in, SHIB’s popularity was seen surging. The meme coin has grown by 1388247.89% since its origin. It should be noted that the asset hit an all-time high of $0.00008845 in 2021 about three years ago. Currently, SHIB is nearly 80% below this peak.
At the time of writing, Shiba Inu was trading at $0.00001853. Most assets in the market were encountering a downtrend and SHIB followed suit. The meme coin was down by nearly 3% over the past 24 hours.
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Analyzing Potential Returns
Looking back at 2020, Shiba Inu was trading at a dainty price of $0.00000000008165. An amount of $10,000 would bring in a total of 122,476,003,661,510 SHIB or (122.48 trillion SHIB). According to calculations, A $10,000 investment in SHIB in 2020 would be worth approximately $2.27 billion today.
This highlights the massive growth of the meme coin over the years. A fairly small amount of investment could have brought life-changing gains today. Several, however, believe that SHIB is still priced low. Accumulating the asset at its current price could turn into notable profits in the future. The team behind the asset has been working to boost its utility while the community is focused on its burns. This duo is expected to improve the network as a whole.
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