Shiba Inu, a cryptocurrency that has seen a significant rise in value since its inception, has caught the attention of early investors due to its profitability. Yescas Rigo, a member of the Shiba Inu community, recently highlighted the impressive performance of SHIB since its launch. While many are familiar with the history of Shiba Inu, not everyone fully comprehends the extent of its remarkable price surge from 2020 to 2021.
Underestimated Potential of SHIB
Yescas’ data table reveals the journey of Shiba Inu, showcasing the deletion of multiple leading zeros as it gained popularity. Initially viewed as a mere copycat of Dogecoin by the pseudonymous creator Ryoshi in August 2020, SHIB was not taken seriously in the crypto world. Even Vitalik Buterin, the co-founder of Ethereum, shared this sentiment and was gifted half of the SHIB supply by Ryoshi upon its launch. Buterin decided to burn a large portion of the tokens and donate the rest to charity, believing that Shiba Inu would not sustain its initial hype.
Unexpected Growth of Shiba Inu
Contrary to expectations, Shiba Inu exceeded Buterin’s predictions and surprised many industry experts who underestimated its potential. From its initial trading price of $0.000000000972 in August 2020, SHIB has managed to delete five leading zeros, as confirmed by CoinGecko data. Despite facing volatility and skepticism, Shiba Inu began 2021 with a strong upward trend, shedding two leading zeros and reaching $0.00000000505 in January.
Impressive Performance and Future Projections
By October 2021, Shiba Inu hit an all-time high of $0.000088, marking a monumental rally of 9,119,241% since its launch. Although the price has dropped since then, SHIB still holds four leading zeros and continues to outperform other crypto assets. Analysts foresee further growth for Shiba Inu, with predictions ranging from reaching $0.0001 to $0.001 in the near future.
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The opinions expressed are solely those of the author and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct their own research before making investment decisions. The Crypto Basic shall not be held responsible for any financial losses incurred.