Shiba inu, a mysterious and unknown breed of dog was introduced on August 1, 2020. The founder Ryoshi, minted SHIB with a circulating supply of 1 quadrillion tokens. The Ethereum creator Vitalik buterin received 50% of his supply, which reduced the total supply to just 549 trillion.
Rumors were also rife at that time that Ethereum founder Vitalik Buterin could be Ryoshi himself. It’s a different story and not confirmed. Shiba Inu began at $0.000000000056 (10 Zeroes), and dropped one zero by September. The chart position was unchanged by 2020. It added a second zero.
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Shiba Inu, the greatest comeback ever
Shiba was already nearing its end in 2020 when signs of an upswing began to appear. SHIB began 2021 in a big way, with an increase of nearly 85,000,000 (85.5 million percent) from December 2020 to October 2021. It was so huge that dog tokens became the most popular names in the cryptocurrency markets.
In no time at all, millions of first-time and new investors hoped to get on the bull. Shiba Inu removed six zeros from the equation in less than one year. This made investors literally millionaires. Working-class sects made over $1 million, quit their jobs and lived comfortably. Warehouse managers, truck drivers and two brothers who were jobless all earned at least $1 million.
A $10 investment made in August 2021 grew to $15.7 millions in October 2021, at the peak. It was so huge that it outperformed Bitcoin and Ethereum as well as the entire Nasdaq Index in terms of returns. For traders present, this was a time that will be remembered by a newer generation as a period of incredible wealth.
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Source: watcher.guru
