Shiba Inu Has Soared by 57%, but Is It a Buy?

Controversial meme token Shiba Inu (CRYPTO: SHIB) has enjoyed a rebound in the past few weeks. It traded at a low price of $0.000019 per token in January, and has since soared by more than 57% to about $0.00003, where it trades as of this writing.

But let's back up a step, because that pales in comparison to the 43,800,000% return the token generated in 2021. Had you invested just $2.29 in Shiba Inu on Jan. 1, 2021, and held on for the entire year, you'd have earned a return of over $1 million. There aren't many investments in history that would've made you a millionaire for less than the price of a cup of coffee, but here we are.

Image source: Getty Images.

Source Fool.com