© Reuters. If You Invested $100 In Shiba Inu When The Coin Launched, Here’s How Much You’d Have Now
Cryptocurrency Shiba Inu (CRYPTO: SHIB) has built a loyal following of fans and investors since launching in August 2020. Here’s a look at how much money people who got in at the start have made.
What Happened: Shiba Inu launch in August 2020 as a similarly themed cryptocurrency to Dogecoin (CRYPTO: DOGE).
Shiba Inu leverages the Ethereum (CRYPTO: ETH) network and has created a decentralized exchange called ShibaSwap. Three tokens are native to the platform: SHIB, Leash (LEASH) and Bone (BONE).
A Shiba Inu-based NFT project called Shiboshis launched in November 2021.
Formerly only available on decentralized exchanges like Uniswap, Shiba Inu has been added to several major cryptocurrency platforms including Coinbase Global (NASDAQ: NASDAQ:COIN) and Kraken.
The coin was also recently added to Robinhood Markets (NASDAQ: NASDAQ:HOOD) cryptocurrency platform as one of four new coins added.
News of Shiba Inu being added to Robinhood led to a sharp increase in the valuation of the token earlier this week.
Here’s a look at the history of an investment in the coin.
Related Link: How To Buy Shiba Inu
Investing $100: Shiba Inu launched in August 2020. The earliest date listed for price history on Coinmarketcap is Aug. 1, 2020 when SHIB traded at $0.00000000051 per token.
A $100 investment at the time could have bought 196,078,431,373 SHIB.
That investment would be worth an astonishing $5,017,547.06 now.
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.
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If You Invested $100 In Shiba Inu When The Coin Launched, Here’s How Much You’d Have Now