The cryptocurrency industry has welcomed several assets over the past few years. The second largest meme coin, Shiba Inu (SHIB), has been a favorite in the community. The network is lauded for its loyal user base and utility. Another factor that makes SHIB stand out is its growth trajectory since its origin. This article dives into how much a dainty investment made during its launch in 2020 be worth at today’s price.
Also Read: SEC Officially Drops Ripple $XRP Lawsuit
How Is Shiba Inu Faring Today?
At the time of writing, Shiba Inu was trading at $0.00001278. This comes after a slight recovery of 1.98% over the past 24 hours. The last couple of months have been fairly good for the meme coin as it managed to surge to a high of $0.00003329.
Despite its growth, SHIB remains 85% below its all-time high of $0.00008845. It is worth noting that Shiba Inu reached this peak about three years ago, in 2021. In addition, the meme coin has grown by more than 15589750.47% since its all-time low of $0.00000000008165. Several factors have influenced this uptick. The growing utility of the Shiba Inu market is one among them.
Also Read: CoinEx Listing Pi Coin: What’s Next After 19.3% Price Drop?
$100 To $2.5 Million
Several new coins made their debut during the pandemic. But very few managed to stand out and survive. Shiba Inu is one of them. The asset was first launched in August 2020. On the August 1, 2020, Shiba Inu was trading at $0.00000000051.At the time, 196,078,431,373 Shiba Inus could have been purchased with a $100 investment. At the asset’s current price, $100 would bring in only 7,823,659.47 SHIB.
According to calculations, this dainty investment of $100 would turn into $2.51 million at today’s price. This represents a 2,506,567% increase. The massive rise in the small initial investment highlights the positive side of the cryptocurrency industry.
Also Read: De-Dollarization: 3 Reasons Why The World Is Ditching The US Dollar