Shiba Inu has navigated a series of turmoils, with its astronomical surge over the years resulting in the appreciation of $1.96 worth of SHIB three years ago to $14 million today.
Shiba Inu faced many ups and downs after its launch in August 2020. Notably, a recent chart surfaced to provide context to these price movements, seeking to visualize the worth of $1,000 in SHIB from its launch three years ago.
Shiba Inu’s earliest trade data confirms that the asset traded at $0.000000000510 when it launched over three years ago. Interestingly, if an investor had committed $1,000 to SHIB, then they would have been disappointed for the next few months.
Shiba Inu Returns
Shiba Inu plunged by a massive rate to $0.000000000001 in September 2020. As a result, the $1,000 invested in the asset declined to $1.96. This plunge happened precisely three years ago, leaving the investment devastatingly worth $1.96.
An Impressive Rally
However, Shiba Inu has only appreciated since then. The drop encouraged multiple market participants to procure SHIB, as they saw an opportunity to purchase the asset at a massive discounted rate. This led to an influx of buyers, bolstering demand.
Amid this increased demand and the allotment of 50% of the circulating supply to Ethereum founder Vitalik Buterin, Shiba Inu started registering impressive gains. The asset leveraged the bullishness from these events to rally to $0.00000005 by March 2021.
Due to this rally, the investment worth $1.96 in September 2022 skyrocketed to $98K+. Shiba Inu continued to register gains, as the earlier rally revealed to investors that the asset could see massive surges. More investors trooped in to ride on the momentum, leading to greater demand.
Supported by the substantial burn carried out by Buterin in May 2021, Shiba Inu eventually rallied to an all-time high of $0.00008845 in October 2021. At the ATH, the $1.96 investment increased to a worth of $173 million.
An Ensuing Correction
Shiba Inu has relinquished most of the gains picked up in 2021. Nonetheless, the asset remains well above its value three years ago. SHIB is trading for $0.00000728 as of press time, down 91.7% from its all-time high. Despite this decline, the $1.96 investment in 2020 is still worth millions.
At the current price, this investment is worth $14.26 million. This represents an astronomical 727,999,900% increase from September 2020 to October 2023. As previously reported by The Crypto Basic, CoinGecko confirmed in May that SHIB is the mainstream asset with the highest historical ROI.