If you had invested $1 every week since Shiba Inu (SHIB) launched in August 2020, you would have invested $196 so far. In the four years since its launch, investment has reportedly grown to $5.68 million, an increase of 2,901,536% (2.9 million percent).
If you had made a $1 investment every week in SHIB since its launch until it reached an all-time high of $0.00008616 on October 28, 2021, you would have invested $62. In this scenario, the investment would have become a whopping $11.60 million, a return of 18,718,732% (18.71 million percent).
Can you still become a millionaire with Shiba Inu?
SHIB had an explosive year in 2021, rising many millions of percent in its first year. The asset's price has struggled to regain the same momentum since then. SHIB price is down nearly 80% from its 2021 peak.
The 2021 Shiba Inu rally has been fueled by many developments. The overall market was in a bull phase and several assets were reaching all-time highs. SHIB also witnessed a massive burn carried out by Ethereum co-founder Vitalik Buterin. Buterin received half of SHIB's supply at launch and decided to burn 90% of the tokens he received. Buterin's actions led to a massive decline in SHIB circulation, thus causing a price spike.
There are still around 589 trillion Shiba Inu tokens in circulation. Massive supply is a significant barrier to the asset's price. If the project can carry out another burn like the one in 2021, we could witness another massive rally for the asset. The SHIB team is reportedly working on a new burning mechanism rumored to burn trillions of tokens annually. We don't have an official release date for the new burning mechanism, but it could lead to a significant increase in the price of SHIB.
