cryptocurrency Shiba Inu SHIB/USD it has built a loyal following of fans and investors since its launch in August 2020. Here's how much money people who got in early have made.
What happened: Shiba Inu was launched in August 2020 as a similarly themed cryptocurrency for dogecoin DOGO/USD. The coin has quickly gained a following and is now one of the top 15 largest cryptocurrencies by market capitalization.
Shiba Inu takes advantage of the Ethereal EUR/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 released in November 2021.
It was previously only available on decentralized exchanges like uniswapShiba Inu has been added to several major cryptocurrency platforms, including Coinbase, Kraken and Robin Hood.
News of the coin being added to robinhood helped increase the price of the coin.
Here's a look at the history of a Shiba Inu investment.
Related link: How to buy Shiba Inu
Invest $100 in Shiba Inu: The cryptocurrency was launched in August 2020 and the earliest date indicated for price history was August 1, 2020, when the coin traded at $0.00000000051 per token.
An investment of $100 at that time could have bought 196,078,431,373 SHIBs.
That investment would be worth a staggering $2,845,098.04 today, based on a price of $0.00001451 for SHIB at the time of writing.
Shiba Inu reached 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 in value as much and most do not have high trading volume when initially offered, making this hypothetical investment unlikely for most.
This is another example of why investing a small amount in cryptocurrency could have a big return over time.
Over the past 52 weeks, the Shiba Inu has traded between $0.000007197 and $0.00003493.
Photo: Unsplash
