Shiba Inu: $1 in SHIB Every Day Since 2020 Is Now Worth $24 Million
Shiba Inu (SHIB) is one of the most successful cryptocurrencies on the market. The asset has exploded during the 2021 bull run, gaining millions of percentage points. Early investors have become multimillionaires and, in some cases, billionaires.
If you had invested $1 every day since SHIB launched in August 2020, you would have invested $1,385 by now. Over the past four years, this investment has grown by 1,784,369% (1.7 million percentage points) and is now worth $24.7 million.
If you had invested $1 every day since Shiba Inu launched in August 2020 until it reached its all-time high of $0.00008616 in October 2021, you would have invested $453.
SHIB's outstanding performance in 2021 has earned it a reputation as a "millionaire-making token." The asset's price has fallen by more than 80% from its 2021 peak and has struggled to gain traction.
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One obstacle to SHIB's price increase is its huge supply. There are currently about 589 trillion SHIB tokens in circulation. When it was launched in 2020, Ethereum co-founder Vitalik Buterin received half of the asset's supply. Buterin decided to destroy 90% of the tokens he received and donate the rest to charity. His move caused the asset's price to soar.
