#ChristmasMarketAnalysis Just $2.5 In Shiba Inu Could Have Made You $1 Million Today

If you invested $2.5 in SHIB when the asset was at its all-time low on Nov. 28, 2020, the investment would have been worth $1.04 million today. Your portfolio’s value would have risen by 41,926,933.97% (41.92 million percent).

If you had sold your holdings when SHIB was at its all-time high on Oct. 28, 2021, you would have made $2.91 million. In this scenario, your portfolio’s value would have risen by 116,556,166% (116 million percent).

There are still about 589 trillion SHIB tokens in circulation. The high circulating supply is a barrier to SHIB’s price. If the project can reduce its supply and increase demand, we may witness another 2021-like rally. The general market environment also needs to be bullish for SHIB to rally.

The team reportedly works on a new burn mechanism, rumored to burn trillions of tokens yearly. The team has yet to disclose the new burn mechanism’s launch date and inner workings.

Can You Still Become A Millionaire With The Memecoin?

One of the most significant catalysts for Shiba Inu’s (SHIB) incredible rally in 2021 was Vitalik Buterin’s massive token burn. The Ethereum co-founder received half of SHIB’s supply upon launch. Buterin burnt 90% of the coins he received and donated the rest to charity. His actions led to a substantial drop in supply. SHIB’s demand was high, and the supply dip led to a drastic price spike.

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