Shiba Inu launched in August 2020 and has become one of the 15 largest cryptocurrencies.
Updates on the coin and an increasing burn rate have attention coming back to one of the largest meme coins
Meme coin Shiba Inu SHIB/USD is seeing a rising value, with the cryptocurrency 6% up in the last day and 22% over the last week, thanks to an increased burn rate and a teaser from the coin's developer.
Here’s a look at how much money people who got in at the start of the Shiba Inu storyline would have made today.
What Happened: $SHIB Inu launched as a similarly themed cryptocurrency to $DOGE coin DOGE/USD in August 2020. Today, the cryptocurrency is one of the 15 largest coins by market capitalization, and has appeared in the top 10 from time to time .
Shiba Inu leverages the Ethereum ETH/USD network and created a decentralized exchange called ShibaSwap, which includes tokens like BONE and LEASH.
Investors who became familiar with Shiba Inu early would have profited nicely.
The cryptocurrency launched in August 2020, and its earliest date listed for price history is Aug. 1, 2020, when it traded at $0.00000000051 per token.
A $100 investment at the time could have bought 196,078,431,373 Shiba Inu.
That investment would be worth an astonishing $1,974,509.80 today, based on the current price of a Shiba Inu at $0.00001927.
Shiba Inu hit an all-time high of $0.00008845 in October 2021. At its peak, the $100 investment would have been worth $17,343,137.25.
Not all cryptocurrencies appreciate this much in value, and most have low trading volumes when first offered, making this type of investment outcome unlikely for the majority.
