Shiba Inu (SHIB) is one of the best performing cryptocurrencies in the past five years. If we put $1,000 in Shiba Inu (SHIB) in August 2020, our investment would have increased to more than $18 million today. According to Changelly’s ROI calculator, your capital would have increased by 1,841,652% (1.84 million%).
Shiba Inu (Shib) hit an all-time high of 0.00008616 in October 2021. If you were selling $1,000 worth of Shiba Inu (Shib) tokens when your assets peaked, you would have made $103 million. In this scenario, your capital would have increased by 10,303,317% (10.30 million%).
Is it too late to join Shibu?
Shiv’s incredible 2021 rally was one of the history books. The rally was driven by high demand and the massive burns of Vitac Buterin tokens. The co-founder of Ethereum decided to receive half of Shib’s total supply and burn 90% of the coins they received. Butaline burned about 410 trillion Siv tokens. Assets experienced a sudden decline in supply while demand was still high. This development has resulted in a massive price spike.
Shiba Inu (SHIB) rarely gets any more burns like it did in 2021. Approximately 589 trillion Siv tokens are currently popular. High supply presents a barrier to Shiv’s price. The team is reportedly working on a new burn mechanism that is rumoured to burn trillions of tokens a year. If the project can reduce supply, the assets could experience another large gathering.
Burns alone do not lead to price bumps. According to leading developer Shytoshi kusama, there is a need for a significant demand to gather Shib prices. This project requires building more applications on the Shibarium network to gain more adoption. The only way SHIB can see higher price levels is by more demand.
