Last updated on May 18th, 2024 at 12:00 pm
CoinGeko’s Shiba Inu Analysis – Popular coin price-tracking platform, CoinGeko recently conducted an in-depth analysis of meme coins in their bull market days.
Results from the research showed that investors would have made $1 million from a $12 SHIB investment. The study further revealed that Shiba Inu gave the highest ROI during its bull run.
CoinGeko shared the result of the research on their official Twitter page. The research analyzes ten meme coins, including Shiba Inu (SHIB), Dogecoin (DOGE), Dogelon Mars (ELON), Bonk (BONK), Floki (FLOKI), Pepe (PEPE), and others. See the tweet below:
1/ Ever wondered how much money you would need to invest in meme coins to become a millionaire?
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Our recent study shows that an investor would have needed an average of $66,298.25 to become a meme coin millionaire. 🧵
Read the full study: https://t.co/XPGIpukeT8 pic.twitter.com/vAMk10onMg
— CoinGecko (@coingecko) May 4, 2023
The research focused on how much will be required for an investor to be a meme coin millionaire. According to the results, Shiba Inu required a minimum amount of $12. Dogecoin came in second place with an $820 minimum. In third and fourth place are Floki and Dogelon Mars with $4,508 and $20,839 respectively.
However, the trending Pepe coin (PEPE) crossed the $100,000 threshold requiring a minimum of $158,312 to get a $1 million ROI. Other coins like Wojak and ArbDoge require $175,330 and $190,586 respectively.
Number of days required to earn $1 million
CoinGeko’s findings also reveal the number of days for a meme coin investment to reach the $1 million mark. According to the results, it will take a SHIB investor 453 days to earn $1 million. However, coins like BONK, AIDOGE, and PEPE take relatively 2,701 days.
Read Also:
- Shiba Inu Tops Most Popular Meme Coin List in US and India
- Ripple vs. SEC: Bill Morgan Hopes XRP Community Gently React to Former SEC Lawyers’ Comments
- CoinGeko’s Shiba Inu Analysis
- Pepe (PEPE) Sees Nearly Double the Trading Volume of Shiba Inu (SHIB)
- Shiba Inu Hodlers Remain Resilient in the Face of Price Decline
Finally, CoinGeko maintained that Shiba Inu is by far the most successful meme-based coin to date. Since its launch in August 2020, the coin has grown exponentially by 8,424,203 (or 84,242x). The ongoing Shiba Inu burn is one of the reasons Shiba Inu is gaining much popularity. Recall that Vitalik Buterin, founder of Ethereum recently burned a massive 410 trillion SHIB.
Shiba Inu is the most popular meme coin in the US
Recall that CoinGeko shared the result of their recent research on the countries that are most interested in meme coins. According to the findings, Shiba Inu tops the chart in the US and other countries like India. The study considered the top 15 meme-based tokens by market capitalization. The study also shows that meme coins are most popular in countries like Southeast Asia, Morocco, Australia, New Zealand, Canada, and Nigeria.
2/ The most popular meme coin in the US this year is $SHIB, which generated 60.7% of US interest in meme coins.
Recent trending crypto $PEPE drove another 11.8% of meme coin interest in the US, followed by $BONK and $VOLT.
— CoinGecko (@coingecko) May 3, 2023
Shiba Inu Price Today
According to live data from CoinMarketCap, Shiba Inu is currently trading at $0.000010 USD. It is ranked #15 on the CoinMarketCap chart with a live market cap of $5,861,631,914 USD. Binance is one of the best exchanges to buy Shiba Inu.
>>>>Buy SHIB on Binance<<<<
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.