Cryptocurrencies no longer have the charm they did in the past. But the fact remains that in recent years some of them have enriched some investors.
While there have been some big cryptocurrency winners, none have achieved the phenomenal returns of Shiba Inu (SHIB 2,99%). And it didn't take long to generate these gigantic gains. Here's how much you would have earned if you had bought Shiba Inu in early 2021.
Bark up to the bank
La quotation of Shiba Inu on January 1, 2021 was just $ 0,000000000119. This very low cost was one of the main attractions of the meme coin. More than 8,4 billion SHIB tokens could be purchased for just $ 1.
But suppose you were particularly in love with the Shiba Inu at the time. Instead of buying $ 1 worth of cryptocurrency, you shelled out $ 10 to raise over 84 billion tokens. Assuming you didn't sell along the way, your initial $ 10 would have been worth more than $ 742.850 at the end of June 2021.
Many investors would have been tempted to cash in on this staggering gain. However, the best was yet to come.
At its peak price of $ 0,00008845 on October 28, 2021, Shiba Inu would have turned your $ 10 into over $ 7,43 million. Again, it probably would have been hard to resist the urge to take the money and run away with that huge amount. But how much would you have earned if you had held out? There is good and bad news.
The bad news is that an initial $ 10 investment in Shiba Inu in early 2021 wouldn't be worth anywhere near as much as $ 7,43 million today. The good news is that your tokens would still be worth around $ 889.000. This is a return of over 89.000% in just over 18 months.
The future will not be like the past
You can't go back in time and buy Shiba Inu in early 2021. But can you still make a huge fortune with the meme coin?
Do not count on the fact that Shiba Inu can generate a dizzying return as in the past. She is no longer flying under the radar as she was at the beginning of last year. And despite the number of zeros in its price, Shiba Inu isn't as cheap as it was then.
Equally important is that the dynamics of the overall cryptocurrency market have changed significantly. Many investors are no longer willing to take the same level of risk as last year. Competition among cryptocurrencies for investments has also increased.
It is possible, and perhaps even probable, that Shiba Inu will never be able to regain the highs reached in the fall of 2021. Some believe that Shiba Inu is a cryptocurrency to be avoided regardless. Because? Mainly because it doesn't have a competitive advantage over other tokens.
However, the future doesn't necessarily have to mirror the past for Shiba Inu to still make investors rich. There are several factors that could allow meme coin to make solid gains over the next year and beyond.
An aggressive Shiba Inu burning strategy would eliminate the coins from circulation and potentially increase their price. The imminent launch of the Shibarium layer-2 solution could attract new developers to the Shiba Inu ecosystem. The Shiba Inu metaverse could bring users. Headwinds in the general cryptocurrency market could also ease, to the benefit of Shiba Inu.
The chances of Shiba Inu turning an initial investment of $ 10 into $ 889.000 are very high. There is no guarantee that the token will generate positive returns in the long run. However, it is still possible that the Shiba Inu could be a big winner for investors who lower the bar.