Cryptocurrency Shiba Inu SHIB/USD is one of several so-called memecoins enjoying a run-up in valuation in early 2024.
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 10 largest coins by market capitalization.
Shiba Inu leverages the Ethereum ETH/USD network and created a decentralized exchange called ShibaSwap. Three tokens are native to the platform: Shiba Inu, Doge Killer LEASH/USD and Bone ShibaSwap BONE/USD.
A Shiba-Inu based NFT project called Shiboshis launched in November 2021.
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.
News of Shiba Inu being added to Robinhood helped boost the price of the token.
Here's a look at the history of an investment in Shiba Inu.
Related Link: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.
Investing $100 in Shiba Inu: The cryptocurrency launched in August 2020 with the earliest date listed for price history being 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 $6,398,039.22 today based on a price of $0.00003263 for Shiba Inu at the time of writing.
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.
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.
In the current cryptocurrency cycle, investors are increasingly more attracted to memecoins potentially for this very reason.
Over the past 52 weeks, Shiba Inu has traded between $0.000005717 and $0.00004534.
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FAQs
A $100 investment at the time could have bought 196,078,431,373 Shiba Inu. That investment would be worth an astonishing $6,398,039.22 today based on a price of $0.00003263 for Shiba Inu at the time of writing.
What happens if I invest $100 in Shiba Inu? ›
If you invest $100 in Shiba Inu today and the value of the meme cryptocurrency increases due to high demand by investors, say up to 100%, you stand a chance to make a profit of $100. This is because Shiba Inu is a digital financial asset.
How much was Shiba Inu when it was launched? ›
Shiba Inu launched in August 2020 with an initial price of $0.000000001009, according to CoinMarketCap. The price first pumped in May 2021, reaching a high of $0.00003469.
How much would I have if I invested $1000 in Shiba Inu? ›
Investing $1,000 in Shiba Inu at the current price of $0.0000242 would net you 41.3 million tokens. Simple math suggests those tokens would have to trade at $0.024 each for your position to be worth $1 million.
How much Shiba Inu to make 100k? ›
Circling back to the $100,000 goal, at the hypothetical price of $0.0065, about 15.38 million SHIB would be needed to achieve that six-figure sum. With SHIB currently valued at $380 for that quantity, the math aligns to yield $100,000, Moving forward to the year 2040, Changelly speculates that SHIB could reach $0.02.
What if Shiba reaches $1 cent? ›
At 1 cent per SHIB, the meme currency would command a market cap of $5.89 trillion, over two times the current market cap of all digital assets combined.
What will Shiba Inu be worth in 2040? ›
Shiba Inu is expected to cost between $0.0045 and $0.0058 in 2040, with an average market price of $0.0049. This range represents market expectations and takes into account several possibilities as crypto is expected to attain widespread usage.
What is the best crypto to invest $1,000 dollars in? ›
CRYPTO: BTC
If you're looking to gain exposure to cryptocurrencies in your portfolio, it's best to keep things simple and focus on the most valuable digital asset out there. It shouldn't be a surprise that I'm talking about Bitcoin (BTC -1.29%). Here's why it's the ultimate cryptocurrency to buy with $1,000 today.
How much market cap does a Shiba need to hit $1? ›
The road to $1 will be filled with mathematical hurdles
There are 589.29 trillion tokens in circulation, so based on the recent price of $0.000028 per token, Shiba Inu has a market cap of $16 billion. Simple math dictates that at $1 per token, Shiba Inu would have a market cap of $589.29 trillion.
How many Shiba Inu coins will make me a millionaire? ›
How much Shiba Inu do I need to become a millionaire in 2025? 10M SHIB might be enough to make you a millionaire in 2025, or maybe even sooner. The circulating supply of $SHIB is high right now, but it's decreasing more each hour as holders are “burning” it (sending SHIB to a dead wallet).
If you invest $100 in Shiba Inu today and the value of the meme cryptocurrency increases due to high demand by investors, say up to 100%, you stand a chance to make a profit of $100. This is because Shiba Inu is a digital financial asset.
Has Shiba Inu helped early investors make millions? ›
Many early investors of SHIB have reaped millions in profit and, in some cases, even billions. If you invested $10 weekly into SHIB from August 2020 till the token reached its all-time high on Oct. 28, 2021, you would have put in $490.
What happens if Shiba Inu goes to $1? ›
Simple math suggests that if Shiba Inu rose to $1, its market cap would then be $589.3 trillion. For context, that's more than the total wealth of every person on Earth, which stood at $454 trillion at the end of 2022, according to Credit Suisse.
Should I put money in Shiba Inu? ›
Key Points. An active community makes it fun to invest in Shiba Inu. However, Shiba Inu's volatility means it's inappropriate for large positions. It's fine to buy a few Shiba Inu tokens as a speculative rising-tide play on Bitcoin's upside potential.
Will Shiba Inu go up to a dollar? ›
Simply put, there is no way Shiba Inu can rise to $1 in its current state. The community is trying to shrink supply by "burning" tokens, which removes them from circulation forever, but efforts have been futile so far.
