Shiba Inu (SHIB) seems to have recovered somewhat after the recent market crash. Following a comprehensive market recovery, the asset has achieved a healthy rebound. SHIB has risen 7.3% on the weekly chart, 11.9% on the 14-day chart, and 4.9% month-over-month. Despite the recovery, the asset has still fallen 0.6% on the daily chart, down 45.4% since the end of April 2024.
A Shiba Inu that originally cost $100 is now worth $1.8 million.
SHIB is one of the most successful cryptocurrency projects in the market. The asset has made significant progress in its four and a half years of development. Since its launch in August 2020, SHIB's price has increased by millions of percentage points, reaching an all-time high of $0.00008616 in October 2021. Some early investors have made substantial returns with minimal investments. Many have quit their jobs to pursue their dreams after achieving success with SHIB.
If you had invested $100 to buy Shiba Inu stock (SHIB) on August 2, 2020, that investment would be worth $1.85 million today. Your funds would have grown by 1,857,890% (1,857,890%).
SHIB reached an all-time high of $0.00008616 on October 28, 2021. If you sold $100 worth of tokens at SHIB's peak, you would have made over $10 million in profit. Your investment would have grown by 10,303,317.81% (10,303 times).
One of the biggest drivers of Shiba Inu's (SHIB) astonishing rise in 2021 was Vitalik Buterin's token burn. The co-founder of Ethereum received half of the supply when SHIB was launched. At that time, there was also a high demand for SHIB. The decrease in supply coupled with strong demand caused the price to skyrocket.