Shiba Inu, a cryptocurrency that has seen significant growth since its inception, has caught the attention of early investors due to its impressive profitability. Yescas Rigo, a member of the Shiba Inu community, recently highlighted the remarkable journey of SHIB since its launch, shedding light on its historical performance.
Initially viewed as a mere imitation of Dogecoin, Shiba Inu, created by Ryoshi in August 2020, surprised many by deleting multiple leading zeros along its path to success. Even Ethereum co-founder Vitalik Buterin, who was initially skeptical of SHIB, was taken aback by its performance. Buterin’s decision to burn a significant portion of SHIB tokens that were gifted to him by Ryoshi reflects his initial doubts about the project’s longevity.
Despite initial doubts, Shiba Inu has defied expectations by deleting five leading zeros since its launch. From trading at a fraction of a cent in 2020 to hitting an all-time high of $0.000088 in October 2021, SHIB has shown remarkable growth, rallying over 9 million percent in just two years.
Although SHiba Inu has experienced a 71% drop from its all-time high, it still maintains a strong position in the market, with analysts predicting further growth in the near future. With projections of reaching $0.0001 or even $0.001 in the current bullish market, Shiba Inu continues to demonstrate resilience and longevity in the cryptocurrency space.
It is important to note that the information provided in this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions.