Turned Rich with Shiba Inu: $200 Weekly Investment Since 2020 Unveiled

• Understanding Shiba Inu's Journey
• The Meteoric Rise of Shiba Inu
• The Potential of Investing in Shiba Inu
• Is Becoming a Millionaire with Shiba Inu (SHIB) Still Possible?
• Prospects of Shiba Inu in 2024
• Increasing Adoption of Shiba Inu (SHIB)

Understanding Shiba Inu's Journey

The meme cryptocurrency, Shiba Inu$0.000010 -2.05% (SHIB), has been in operation for more than three years now. It was introduced in the market in August 2020 with the intention of posing competition to the meme coin pioneer, Dogecoin$0.091 -0.42% (DOGE), which made its debut in 2013. Even though SHIB has been unable to surpass DOGE's market cap, its progress since its inception is impressive.

The Meteoric Rise of Shiba Inu

From the time of its introduction in August 2020 to hitting its peak in October 2021, SHIB's price rose by a staggering million percent. If a $200 weekly investment had been made in Shiba Inu (SHIB) since its launch, it would add up to $31,400 by January 2024. Yet, the value of that investment would have soared to $45.59 million, indicating a growth rate of more than 145091%.

The Potential of Investing in Shiba Inu

Additionally, if an investor had been putting in $200 weekly till the day of SHIB's highest point on October 28, 2021, the total input would have been $9,800. Astonishingly, the investment would be worth a whopping $162.39 million, a growth rate of 1656965% or 1.65 million percent.

Is Becoming a Millionaire with Shiba Inu (SHIB) Still Possible?

Shiba Inu (SHIB) is recognized as one of the more popular cryptocurrencies available. However, potential investors may wonder if they are too late to invest in SHIB. The crypto struggled throughout 2023, even though it had a significant level-2 network launch.

Prospects of Shiba Inu in 2024

Still, supporters are hopeful that the meme token will rebound in 2024 and that it's not too late to become a millionaire with SHIB. However, there are important factors to consider. Firstly, the 2021 rally of SHIB was significantly supported by Vitalik Buterin's mass token burn. Buterin, who initially received half of SHIB's supply, chose to burn 90% of these tokens. This resulted in a considerable decrease in SHIB's supply. For a rally like that in 2021, the project would need to conduct a similar token burn.

Increasing Adoption of Shiba Inu (SHIB)

Secondly, Shiba Inu (SHIB) will require a surge in mass adoption. The introduction of the Shibarium network may lead to the development of more applications within the SHIB ecosystem, potentially resulting in increased usage of SHIB. Both these factors could drive SHIB's price to new heights.

Edited by Jonathan Stoker