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Can SHIB make an investor a millionaire
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Can SHIB make an investor a millionaire

Feb 12, 2024

The question of whether Shiba Inu (SHIB) can turn an investor into a millionaire remains open against the backdrop of its current trading price at $0.000009258 and observed declines on daily and monthly charts. Since its launch in August 2020 at a price of $0.000000000951, SHIB has shown astronomical growth of 85,000,000% by October 2021, turning early investors into millionaires with just $650 investments, which turned into $1.7 million by the end of 2021.

In 2021, SHIB was at the height of popularity in the cryptocurrency world, but 2022 brought a downturn, and the token's price began to steadily decrease without significant spikes. Several factors hinder SHIB's growth, including the massive amount of tokens in circulation - 549 trillion. Even the proposed Layer 2 solution Shibarium, aimed at burning trillions of SHIB tokens, has yet to initiate the token burning process.

The prospects for investors look uncertain: it may take years to reach a break-even level, and if Shibarium does not burn trillions of tokens, the dream of millions on SHIB may remain just a dream. Bullish growth of the cryptocurrency is possible with strong buying pressure and an influx of new investors, which currently seems unlikely for a meme coin.

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