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Shiba Inu (SHIB) has been moving sideways for a while now. But the previous week was highly bullish for the meme coin. Over the past seven days, SHIB surged by nearly 9%. The asset went from trading at a low of $0.00001301 to a high of almost $0.0000150. While this is a reasonably low rise considering SHIB’s previous ascent, the community hopes for much more. Also Read: Can Binance Coin (BNB) Reclaim $700 by the End of September? Recent Performance of Shiba Inu In January 2021, Shiba Inu’s value increased by a notable 45,131%. This rally’s relevant background was highlighted in a CoinGecko report from last May. The report revealed that a $12 investment in SHIB yielded $1 million in 2021, which is an 8,333,233% spike. Source At press time, SHIB was trading at $0.00001441, following a 2.31% dip over the past 24 hours. The meme coin’s daily volume also plummeted by 15% to $161,932,281. Also Read: Does MetaMask Support Solana? Shiba Inu’s 1000% Rally Potential...

While the ongoing volatile crypto market has decimated portfolios across the board, early backers of meme coin Shiba Inu are still counting their blessings despite the brutal decline. Investors who took a chance on the fledgling token in its first year have managed to hold onto millionaire status even as SHIB currently trades 89% below its peak. Shiba Inu: An Investment of $1000 in SHIB Turns Into $9 Million  Changelly data shows that a hypothetical investment of just $1000 made in August 2020, near the launch of the previously unknown Shiba Inu, is now worth a staggering $9 million. That equates to a 907599.52% return on investment over the span of three and a half years. Such outsized gains elevated SHIB into a millionaire-making juggernaut during its gravity-defying rally in 2021. Its early backers hit a liquidity jackpot, the likes of which are rarely seen from single crypto assets. Also read: Shiba Inu: What Could a $1,000 SHIB Investment Yield in 2025? Stories have ...