When Shiba Inu made its debut on August 1, 2020, three years ago, it was a relatively unknown beginner token. SHIB was able to break through the congested cryptocurrency marketplaces because to its catchy yet competitive moniker, “the Dogecoin killer,” which attracted attention.
As SHIB immediately challenged Dogecoin and claimed to be the “next big thing” in the markets, a number of investors entered the company. All things considered, investors who bought Shiba Inu at an early stage have profited by around $6.66 million as of October 2023.
October 2023: Shiba Inu’s Astonishing 6.66 Million from $1,000,October 2023: Shiba Inu’s Astonishing 6.66 Million from $1,000
Early investors became billionaires in less than a year, and SHIB is the first cryptocurrency to do so in the recent past. Since 2020, popular cryptocurrencies like Ethereum, Bitcoin, and even the stock market have failed to provide investors with millions of dollars.
30% Gains in Five Weeks: What’s Behind Chainlink’s Rally?
When Shiba Inu was launched in August 2020, a $1,000 investment might have grown to $6.66 million today. That’s an increase and around a 665,968% return on investment (ROI) in just 26 months after the investment. When investing in the markets, every investor hopes to make the move that will change their life, and SHIB could have been that trade.
Still, SHIB appears to have missed its opportunity to generate millions of dollars, since it is currently heading backward rather than forward.
Its price is plummeting through the roof because to the massive 549 trillion token supply that is in circulation. It is no longer possible for there to be a fantastic bull run like there was in 2021 since the markets do not sustain a rise.
Ripple’s Move: Unloading 75 Million Unlocked XRP Tokens?
As of the time of writing, Shiba Inu was up 1.6% throughout the course of the 24-hour day session, trading at $0.00000716. From its all-time high of $0.00008616, which it attained in October 2021, SHIB has dropped 92%.
October 2023: Shiba Inu’s Astonishing 6.66 Million from $1,000,October 2023: Shiba Inu’s Astonishing 6.66 Million from $1,000,October 2023: Shiba Inu’s Astonishing 6.66 Million from $1,000, Shiba Inu Coin Crypto news, Shiba Inu Coin News