If You Invested $100 In Shiba Inu When The Coin Launched, Here's How Much You'd Have Now

Meme coin Shiba Inu SHIB/USD is seeing a rising value, with the cryptocurrency up 12% in the last day and 44% over the last week, thanks to an increased burn rate and a teaser from the coin's developer.

Here’s a look at how much money people who got in at the start of the Shiba Inu storyline would have made today.

What Happened: Shiba Inu launched as a similarly themed cryptocurrency to Dogecoin DOGE/USD in August 2020. Today, the cryptocurrency is one of the 15 largest coins by market capitalization, and has appeared in the top 10 from time to time.

Shiba Inu leverages the Ethereum ETH/USD network and created a decentralized exchange called ShibaSwap, which includes tokens like BONE and LEASH.

Investors who became familiar with Shiba Inu early would have profited nicely.

The cryptocurrency launched in August 2020, and its earliest date listed for price history is Aug. 1, 2020, when it traded at $0.00000000051 per token.

A $100 investment at the time could have bought 196,078,431,373 Shiba Inu.

That investment would be worth an astonishing $3,974,509.80 today, based on the current price of a Shiba Inu at $0.0002027.

Shiba Inu hit an all-time high of $0.00008845 in October 2021. At its peak, the $100 investment would have been worth $17,343,137.25.

Formerly only available on decentralized exchanges like Uniswap, Shiba Inu was added to several major cryptocurrency platforms like Coinbase, Kraken and Robinhood in 2021 and 2022.

Not all cryptocurrencies appreciate this much in value, and most have low trading volumes when first offered, making this type of investment outcome unlikely for the majority.

This is another example of why investing a small amount in cryptocurrency could have a strong return over time.

What's Next: Optimism is growing for Shiba Inu once again, and meme coins are rising, which could benefit one of the largest meme coins in the sector.

Likely helping the SHIB rally is Shytoshi Kusama, the pseudonymous lead of the coin, sharing a meme on X that could point to optimism ahead.

Shiba Inu's marketing lead recently teased the launch of a stablecoin called SHI from Shiba Inu. The launch of a stablecoin and the increasing burn rate of SHIB could point to increased attention on the meme coin in the coming months.

SHIB Price Action: Over the past 52 weeks, Shiba Inu has traded between $0.000006688 and $0.00004534.

This article was previously published by Benzinga and has been updated.

Photo: Shutterstock