Shiba Inu (SHIB) is a meme coin that is sometimes pitched as a "Dogecoin DOGE/USD killer." The token is the fifteenth largest coin by market cap, according to CoinMarketCap data.
SHIB, an Ethereum ETH/USD-based project, was created anonymously by a person or persons who call themselves Ryoshi. The coin came to the fore in August 2020 and was listed by a number of major cryptocurrency exchanges in the following year.
On May 10, 2021, SHIB was listed by Binance. On the same day, FTX founder and CEO Sam Bankman-Fried announced SHIB deposits and withdrawals were open.
SHIB launched on Coinbase Global Inc’s COIN platform later on Sep.16.
The Investment: If an investor picked up $100 worth of SHIB each time it was listed by these three major exchanges, here’s how much they would have at press time when SHIB traded 1.7% lower over 24 hours at $0.0000245.
| Date Of Purchase/Listing | Purchase Amount | Purchase Price | Coins Obtained | Current Worth | Percentage Change |
|---|---|---|---|---|---|
| May 10, 2021 (Binance) | $100 | $0.0000225 | 2,854,695.975 | $69.94 | -30.06% |
| May, 10, 2021 (FTX) | $100 | $0.0000225 | 2,854,695.975 | $69.94 | -30.06% |
| Sept.16, 2021 (Coinbase) | $100 | $0.000008587 | 11,645,510.66 | $285.315 | 185.32% |
The $300 investment by the investor would be worth be $425.195 today, a respectable gain of 41.73%.
What’s Going On With Shiba Inu? Shiba Inu has declined 28.4% since 2022 began. So far, in the week, it has gained 5.6%.
Shiba Inu saw an uptick in the rate of token burn recently. Data from Shiba Inu burn data service indicates that the rate of burn rose by nearly 6,700% over the preceding 24 hours leading up to March 14.
In another development, AMC Entertainment Holdings Inc AMC began accepting SHIB for online payments ahead of schedule.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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