Shiba Inu (SHIB) has experienced a significant price correction over the last few days. Despite the losses, early investors are still sitting on a large profit.
Since its debut in August 2020, SHIB’s price has risen by several million percent.
The Power of Early Investment in Shiba Inu
Investing $1 Monthly Since August 2020
Source: CryptoDCA
If you had invested $1 monthly in SHIB since its launch in August 2020 till today, you would have put in $46 so far. In the four years, your portfolio’s value would have risen to $1.3 million, a rise of 2,988,599.17% (2.98 million percent).
Also Read: Shiba Inu: These People Made Millions And Billions With SHIB
Investing $1 Monthly Until October 2021
Source: CryptoDCA
On the other hand, if you had invested $1 monthly from August 2020 till Shiba Inu (SHIB) hit its all-time high of $0.00008616 in October 2021, you would have put in $15.
In this scenario, your portfolio’s value would have skyrocketed to $2.7 million, a rise of 18,655,517% (18.6 million percent).
Both examples show the benefits of getting into a project early and investing for the long term.
Will Shiba Inu recover this month?
Source – Token Metrics
Recent Performance
SHIB has reversed 14.6% in the last 24 hours. Despite the recent rally, the asset continues to trade in the red zone in the other time frames. SHIB is currently down nearly 20% in the weekly charts, 21.7% in the 14-day charts, and 17.8% over the previous month.
Also Read: Shiba Inu (SHIB) Outperforms Top 30 Coins With 14% Gains in 24h
Future Predictions
According to the researchers at CoinCodex, Shiba Inu (SHIB) may rally over the next few days. The platform predicts the dog-themed cryptocurrency to hit $0.00003117 on Aug. 11, 2024.
Reaching $0.00003117 from current price levels would lead to a rally of over 131%. CoinCodex analysts do not expect SHIB’s price to hot above $0.00003, predicting a correction to current levels by late August.