Is Shiba Inu a Millionaire Maker?
Shiba Inu (CRYPTO: SHIB) minted some millionaires after its launch on Aug. 1, 2020. The meme coin, which was created as a light-hearted parody of Dogecoin, started trading at just $0.000000000056 per token.
Its price soared to an all-time high of $0.000086 on Oct. 27, 2021, but it now trades at about $0.000024. Therefore, a $100 investment on the first day would have blossomed to $153.9 million before shrinking back to about $42.9 million today.
Shiba Inu, like many other cryptocurrencies, stumbled in 2022 as rising interest rates drove investors toward more conservative investments. But over the past 12 months, its price has more than tripled as the rates stabilized and the crypto market warmed up again. So, could it generate even more millionaire-maker gains over the next few years?
Source Fool.com
