- An investment of $1,000 in Shiba Inu (SHIB) in August 2020 would now be worth over $18 million.
- If sold at the all-time high in October 2021, the same investment could have reached $103 million.
- SHIB saw its highest price surge following a large-scale token burn led by Ethereum co-founder Vitalik Buterin.
- The current supply of SHIB stands at about 589 trillion tokens, making another similar price rally unlikely unless there is a major drop in supply.
- Project developers state that ongoing adoption and real demand are necessary for further price increases, beyond just burning tokens.
A $1,000 investment in Shiba Inu (SHIB) made in August 2020 has grown to over $18 million today. SHIB reached an all-time ROI of 1,841,652% according to Changelly’s ROI calculator.
Selling at SHIB‘s peak price of $0.00008616 in October 2021 would have resulted in an even higher return of about $103 million, a rise of more than 10,303,317%. This major rally was fueled in part by the actions of Ethereum co-founder Vitalik Buterin, who burned around 410 trillion SHIB tokens. This sharp reduction in supply came when demand was still high, boosting the price significantly.
The article notes that repeating a similar large-scale token burn is unlikely. Currently, there are about 589 trillion SHIB tokens in circulation. High supply is seen as a barrier to future price increases. The SHIB team is working on a new burn mechanism, rumored to have the potential to burn trillions of tokens annually. A major supply reduction could lead to another price rally.
However, the lead developer, Shytoshi Kusama, pointed out that reducing the token supply is not enough to boost prices. He stated, “There has to be significant demand for SHIB’s price to rally.” He added that building more applications on the Shibarium network is key to attracting more adoption. Increased demand is seen as the most important factor for future price gains.
Records show that early investors in SHIB have seen major gains, including one turning $12,765 into $5.7 billion. Despite past growth, new investors are warned that similar results depend on both reducing the token supply and growing market demand.
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