If you invested $ 1,000 in the Shiba Inu coin on January 31, 2021, this is how much you would have now
One of the hottest cryptocurrencies of the week was Shiba inu (CRYPTO: SHIB), a coin launched in August 2020 on the model Dogecoin (CRYPTO: DOGE).
What happened: The Shiba Inu coin was launched as a decentralized meme token that “morphed into a vibrant ecosystem,” according to its website.
The ecosystem includes SHIB, LEASH and BONE, three cryptocurrencies. The Shiba ecosystem also includes ShibaSwap, an incubator and an innovative reward system.
The founder of Shiba Inu launched the coin with an offer of one quadrillion. Fifty percent of the total was stuck in Uniswap and the other half was burned for Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin.
Buterin donated SHIB to the Covid Relief Fund to support the devastating pandemic efforts in India.
See also: How to buy Shiba Inu
With a low price per coin, investors can hold millions, billions, or in some cases trillions of coins in their wallets.
“Between its international recognition and its legitimate utility, SHIB is rising thousands of times and constantly expanding its reach. “
SHIB can be purchased using crypto exchange services like Uniswap or the company’s own ShibaSwap platform.
Shiba can be purchased on several major crypto brokers included Global Coinbase (NASDAQ: COIN), eToro, Webull and Digital travel (OTC: VYGVF). There are rumors that the piece will be added Robinhood Markets Inc (NASDAQ: HOOD) later this year when the broker deploys crypto wallets.
Shiba Inu is currently experiencing an increase in trends on Google and social media and is seeing an increase in the volume of its trading activity.
Invest $ 1,000: The first data for Shiba Inu on Coinmarketcap dates back to January 31, 2021, likely due to the low price per coin and the long list of numbers after the decimal point.
On January 31, the Shiba Inu coin was trading at $ 0.00000008. A purchase of $ 1,000 could have bought 12,500,000,000 parts. The 12.5 trillion coins would be worth $ 2,855,000 today based on a current price of $ 0.00002284 for SHIB.