The meteoric rise of Shiba Inu (SHIB) not only made billionaires of some of its lucky early investors, but saw the token appreciate by a whopping 8862274% in the period between its launch in August 2020 and its all-time high in October 2021. Of course, many more missed out – even those keen enough to start investing shortly after its 12-month peak finished up significantly worse off – their $10,200 suddenly worth a loss of $3,964 or 38.87%. Those who had entered the SHIB market before that 12-month run however, investing $100 every week from launch, were sitting pretty on a staggering $170 million.
That leads to the all-important question: with that much supply out there, makes the possibility of SHIB ever though reaching its would-be millionaires magic number — the ‘one-cent dream’ of $0.01 — a realistic one?
Plans had developed for a new burn mechanism in the SHIB blockchain erasing trillions of tokens annually; however, there’s still need for an official launch date, or indication as to how the purported new awkwardly will actually work. Currently, SHIB stands at $0.00000741 with a burn rate around 90.86%.
Ultimately, while the choice of investing remains up to the individual, being aware that even though losses are inevitable, early investors in Shiba Inu can see fascinating profits is a fact not to be unnoticed.
