To Become A Shiba Inu Millionaire If The Crypto Returns To Its All-Time High, Here’s What It Will Cost You Today By Benzinga

Benzinga – Cryptocurrency Shiba Inu (CRYPTO: SHIB) surged in popularity and interest in 2021 and 2022. Trends on social media saw the cryptocurrency, which is based on the dog breed and is similar to Dogecoin (CRYPTO: DOGE), generate huge interest.

Here’s a look at how much the crypto has fallen from all-time highs and how much it would take today to become a millionaire if the coin were to return to all-time highs set in October 2021.

What Happened: Shiba Inu launched in August 2020 as a cryptocurrency similar to Dogecoin. The former has gained a large following, as it is currently the 12th largest cryptocurrency by market capitalization.

Shiba Inu is part of a decentralized exchange called ShibaSwap, which also includes the tokens Leash and Bone. An NFT project called Shiboshis based on the Shiba Inu coin and ecosystem launched in November 2021.

After previously only being available on decentralized exchanges like Uniswap, Shiba Inu was added to cryptocurrency platforms like Coinbase, Kraken and Robinhood. The coin’s addition helped to increase its profile and valuation.

In late 2021, Shiba Inu became a trending cryptocurrency and hit an all-time high price of $0.00008845 in October of that year. The coin trended on both Twitter (now X) and Google, with fans of the cryptocurrency calling for Shiba Inu to hit a price of 1 cent.

The bankruptcies of several cryptocurrency-related companies and pressure on altcoins by the SEC and its chairman, Gary Gensler, have weighed on the price and valuation of Shiba Inu over the last two years.

Read Also: How To Buy Shiba Inu (SHIB)

Becoming a Shiba Inu Millionaire: In 2021, some cryptocurrency investors saw significant gains due to Shiba Inu’s impressive market movement. While those who still hold the crypto could be down on their profits, some trades could still be in the green depending on the purchase dates.

With Shiba Inu trading well below its all-time high, here’s a look at what an investor would need to do today to become a future millionaire based on the cryptocurrency.

If Shiba Inu returns to an all-time high of $0.00008845, a holder would need to have 11,305,822,498.6 SHIB to be a millionaire. Today, that amount can be purchased for $118,145.85.

Shiba Inu is up 28% year-to-date in 2023, beating Dogecoin’s 6% gain. Shiba Inu’s gains in 2023 significantly trail the performance of the two largest cryptocurrencies in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which are up 76% and 53% respectively year-to-date.

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Read Next: Become A Dogecoin Millionaire When The Good Boi Returns To All Time Highs: What It Will Cost Today

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