If you invested $1 per month in SHIB since August 2020, you would have put in $46 so far. The investment would have grown to a whopping $1.5 million in the past 3 years and 10 months, a growth of about 3292889% (3.2 million percent).
If you invested $1 per month from August 2020 until the Shiba Inu hit its all-time high in October 2021, your total investment would be $15. In this scenario, your portfolio value would skyrocket to $2.7 million, an increase of 18655517.53% (18.6 million percent).
The price of SHIB has declined significantly since its 2021 high. The asset is down nearly 80% from its all-time high of $0.00008616, which it reached on October 28, 2021.
The project’s massive supply is one of the main obstacles to Shiba Inu’s valuation. There are currently 589 trillion SHIB tokens in circulation. Ethereum co-founder Vitalik Buterin’s massive SHIB burn is one of the main drivers of SHIB’s incredible rise in 2021.
At launch, Buterin was given half of the project’s coin supply, but he chose to burn 90% of it. SHIB’s price increased largely due to Buterin’s actions.
SHIB price could increase if there is another significant burn. The Shiba Inu team is developing a new burn mechanism that will burn trillions of tokens per year.
