There is no denying Shiba Inu’s (SHIB) incredible success. Early investors have reaped millions of dollars in profit with minimal investments. SHIB’s stellar rally in 2021 turned many average people into multi-millionaires within a short period.
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Just $10 Could Have Made You A Millionaire
If you invested $10 in Shiba Inu (SHIB) in August 2020 and sold your holdings when the asset peaked on Oct. 28, 2021, your investment would have become $1.03 million. Your portfolio’s value would have risen by 10,303,317.81% (10.30 million percent)
Source: Changelly
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If you continued to hold, the $10 investment would have been worth $407,937 today. In this scenario, your portfolio’s value would have risen by 4,079,274.11% (4.07 million percent).
Source: Changelly
Can You Still Become A Millionaire With Shiba Inu?
Many believe that the SHIB boat has already sailed. Others think there is still time to make it big with the dog-themed cryptocurrency.
If you purchase $10 worth of SHIB today, you will receive about 333333.33 coins. For 333333.33 SHIB tokens to be worth $1 million, the price of each token has to reach roughly $3. According to Changelly, SHIB could hit the $3 mark sometime after 2050.
Source: Changelly
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One of the most significant catalysts 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 significant supply drop and a price increase.
Shiba Inu (SHIB) still has about 589 trillion tokens in circulation. The project’s supply has to be drastically reduced so that the asset’s price hits $3. If the price of each token hits $3 with the current supply, the project’s market cap will reach an unrealistically large figure.
