Shiba Inu has seen a significant rise in value since its inception, making it a highly profitable investment for early adopters. Yescas Rigo, a member of the Shiba Inu community, recently highlighted this fact by sharing data on the cryptocurrency’s performance since it was first launched. While many are familiar with Shiba Inu’s background, few truly understand the extent of its impressive price surge from 2020 to 2021.
Underestimated Potential of SHIB
Yescas’ data reveals the remarkable journey of Shiba Inu, showing how it has shed multiple zeros to become a prominent player in the market. Initially considered a mere imitation of Dogecoin, Shiba Inu was created by Ryoshi in August 2020. Even Ethereum co-founder Vitalik Buterin dismissed its potential, receiving a large portion of the SHIB supply as a gift at its launch. Buterin later destroyed a significant portion and donated the remainder to charity.
Surpassing Expectations
In a surprising turn of events, Buterin admitted that Shiba Inu exceeded his initial expectations. This sentiment is echoed by many industry experts who underestimated SHIB’s growth. Yescas’ data indicates that Shiba Inu has shed five leading zeros since its inception, a fact corroborated by market data from CoinGecko.
Impressive Growth
Starting at a minuscule value of $0.000000000972 in August 2020, SHIB saw a slight drop before rising significantly in 2021. By January of that year, it had removed two leading zeros, trading at $0.00000000505. The bullish trend continued throughout 2021, culminating in an all-time high of $0.000088 in October, marking a whopping 9,119,241% increase in just two years.
Future Projections
Despite a 71% decline from its peak, Shiba Inu still maintains a strong position in the market, currently trading at $0.00002522 with only four leading zeros. Analysts predict further growth, with some foreseeing the cryptocurrency reaching $0.0001 or even $0.001 in the near future. Shiba Inu’s resilience and longevity have surprised many, positioning it as a top contender in the crypto space.
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 reflect The Crypto Basic’s views. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic holds no liability for any financial losses incurred.