The year 2021 has been more than fruitful for cryptocurrencies that are enjoying unprecedented investor interest. And while several cryptocurrencies have experienced four-digit percentage spikes, none of these spikes have been as staggering as the rally recorded in the token meme Shiba Inu.
A year from now, the price of Shiba Inu (SHIB), one of the ‘canine’ cryptocurrencies, went up more of 57.832.571 %. To size it, if at midnight on January 1, 2021, the crypto investor bought (SHIB) for a value of $ 2.03, given current prices, it would have earned $ 1,001,818 by November 28. At a Starbucks location in the US, a latte costs About $ 2.95, or about two-thirds the value of the average cup of coffee, Shiba Inu investors became millionaires in less than 11 months.
In fact, there are several stories that have been released about the millionaire profits of cryptocurrency investors. One of the most surprising corresponds to a man who made an investment of 8,000 dollars in early 2021 in Shiba Inu and in six months the figure reached the $ 500,000.
What is Shiba Inu cryptocurrency?
Cryptocurrency meme Shiba Inu, an ERC-20 token based on the blockchain of Ethereum, was created in August 2020 by alias ‘Ryoshi’ as an alternative to the dogecóin, which also uses a Japanese shiba inu dog as its logo.
According to information contributed by the cryptocurrency website, ‘Ryoshi’ started with a volume of 1,000 trillion tokens, of which he deposited half with Uniswap and donated the rest to the co-founder of the Ethereum blockchain system, Vitálik Buterin. The latter, in turn, ‘burned’ (that is, permanently eliminated) 90% of what it received, which is equivalent to 40% of all ‘shibas’ issued. This, according to the founders, “ensured the success and stability” of the digital currency. Currently there are some 549 billion tokens.
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