Despite an 87% plunge in the price of Shiba Inu tokens, early investors are still sitting pretty.
When the COVID-19 pandemic struck in 2020, global governments and central banks kicked into gear with economic stimulus to protect consumers and businesses from the impacts of the virus and social restrictions.
The trillions of dollars in fresh money flowing through the economy led to distortions in financial markets, as investors loaded with cash piled into fast-growing assets looking for returns. The cryptocurrency sector became a hotbed for speculation, and the value of all tokens in existence rocketed to more than $2.9 trillion by late 2021.
The star of that show was an obscure dog-themed meme token called Shiba Inu (SHIB -3.21%), which delivered one of the greatest gains in financial history during that year. But exactly how much would early investors have made?
Read more here: https://www.fool.com/investing/2023/03/07/if-invested-100-shiba-inu-2021-mind-blowing-amount/
