Can Shiba Inu Reach $1? Consider This $589 Trillion Problem
For all of the ups and downs associated with the pandemic and subsequent economic recovery in 2021, the year might well be remembered by investors for the parabolic growth in certain cryptocurrencies.
It kicked off with a Dogecoin (CRYPTO: DOGE) frenzy, soaring 15,644% to $0.74 per token before suffering a steep decline to $0.17, where it remains today. Despite the recent losses, Dogecoin's year-to-date gain still sits at 3,500%, crushing cryptocurrency leader Bitcoin (CRYPTO: BTC), which has gained just 67% in 2021.
But cryptocurrency investors certainly weren't done with meme-tokens. Somewhat late to the party, Shiba Inu (CRYPTO: SHIB) emerged as a crowd favorite in October with a meteoric rise far eclipsing even that of Dogecoin. Had you purchased Shiba Inu on Jan. 1 this year and held on, you would be sitting on a gain of 47,500,000% right now. In other words, a $3 investment would have returned $1.4 million.
Source Fool.com
