Cryptocurrency Shiba Inu SHIB/USD, considered one of the 15 largest cryptocurrencies by market cap, launched in August 2020. Here’s a look at how much money people who got in at the start have made.
What Happened: Shiba Inu launched as a similarly themed cryptocurrency to Dogecoin DOGE/USD. It leverages the Ethereum ETH/USD network and has created a decentralized exchange called ShibaSwap. Three tokens are native to the platform: SHIB, Leash and Bone.
A Shiba-Inu based NFT project called Shiboshis launched in November 2021.
Formerly only available on decentralized exchanges like Uniswap, Shiba Inu has been added to several major cryptocurrency platforms including Coinbase, Kraken and Robinhood.
News of the coin being added to Robinhood helped boost the price of the coin.
Here’s a look at the history of an investment in the coin.
Investing $100 in Shiba Inu: The cryptocurrency launched in August 2020 with the earliest date listed for price history being Aug. 1, 2020 when the coin traded at $0.00000000051 per token.
Related Link: How To Buy Shiba Inu
A $100 investment at the time could have bought 196,078,431,373 SHIB.
That investment would be worth an astonishing $2,039,215.69 today based on a price of $0.0000104 for SHIB at the time of writing.
Shiba Inu hit an all-time high of $0.000084 in October 2021. At its peak, the $100 investment would have been worth $16,470,588.24.
Not all cryptocurrencies appreciate this much in value and most don’t have high trading volumes when they are initially offered, making this hypothetical investment unlikely to happen to most.
This is another example of why investing a small amount in cryptocurrency could have a strong return over time.
Over the last 52-weeks, Shiba Inu has traded between $0.000007197 and $0.000002977.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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