In 2021, few cryptocurrencies made as big of a splash while capturing public imagination as Shiba Inu coin. The infamous "Dogecoin killer" delivered on its goal by outpacing even Dogecoin in percentage growth and rankings ascendance over the past year.
Let‘s explore the key statistics behind the Shiba Inu phenomenon and break down exactly why this coin shaped like a cute dog breeds went from zero to hero.
Overview: Putting SHIB‘s Wild Numbers Into Perspective
In less than one year‘s time, Shiba Inu coin has posted mind-blowing percentage gains exceeding 75 million percent since inception. An investment of just $1 into SHIB on January 1st, 2021 would now be valued at over $7.5 million at the token‘s all-time high price recorded on October 28, 2021.
For comparison, the broader cryptocurrency market posted 143% gains year-to-date through November 2021 – impressive on its own but dwarfed massively by SHIB‘s rise. Even Bitcoin, up 95% in 2021, looks tame next to SHIB‘s run.
Other key statistics measuring SHIB‘s success:
- Current Price (November 2021): $0.00005448
- All-Time High Price (October 2021): $0.00008845
- Market Capitalization: $30 billion (#11 amongst all cryptocurrencies)
- 24 Hour Trading Volume: $2.7 billion
- Circulation Supply: 549 trillion tokens
- Burned/Permanently Removed from Circulation: 410 trillion tokens
So what fueled this unbelievable trajectory from since launch in August 2020 to today? Let‘s analyze key drivers through statistics behind community, tokenomics, adoption, major events and more.
Quantifying the Power of the SHIB Army Community
Being categorized as a "memecoin," Shiba Inu attributes much of its identity and value growth to its viral social community dubbed the "SHIB Army." But how does one measure the strength of an Internet fanbase rallied around a dog coin?
Let‘s compare followers and activity growth across Shiba Inu‘s main community channels versus its most notable competitor Dogecoin:
| Channel | SHIB Followers | 12 mo Follower Growth | DOGE Followers | 12 mo Follower Growth |
|---|---|---|---|---|
| Reddit Subscribers | 387,000 | 348,000 (947%) | 2.0 million | 1.4 million (233%) |
| Twitter Followers | 1.6 million | 1.5 million (1569%) | 2.7 million | 1.9 million (250%) |
| Youtube Subscribers | 210,000 | 210,000 (N/A) | 374,000 | 352,000 (1611%) |
| Discord Members | 165,000 | 165,000 (N/A) | 84,000 | 75,000 (818%) |
Statistical analysis makes clear that while Dogecoin maintains an advantage in total followers, the SHIB Army has proven more viral across social platforms in 2021 – with 4 digit yearly growth rates that dwarf all competition. Discord and Youtube especially showcase dedicated community hubs that eclipse Dogecoin‘s equivalents.
With this grassroots foundation rallying around the token‘s success early on, Shiba Inu gained an organic marketing engine and branding behemoth unmatched in the memecoin category. Next came a series of catalyst events that sent the coin‘s statistics soaring.
Exchange Listings, Major Partnerships Ignite 1,000,000+% Value Spikes
October 2021 was a coming out party for Shiba Inu cementing its status amongst the top echelon of cryptocurrencies. A series of new exchange listings brought validation while high-profile partners created FOMO sending SHIB to unprecedented heights.
On September 9th, Coinbase listed SHIB which initiated an immediate doubling in price over 3 days and 300% monthly gains. After consolidating, SHIB then began its greatest run accelerating when:
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October 4th: Rebranded from "Shiba Token" to "Shiba Inu" reflecting the underlying brand‘s focus. Gained 190% over the ensuing 1 month.
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October 6th: Leading exchange Binance lists SHIB driving 20% single day spike
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October 11th: Whale wallet starts buying billions worth of Shiba Inu coins over the ensuing 2 weeks, speculation runs rampant
What followed was a historic 8 day run from October 18th – October 27th which saw SHIB gain 555% and reach its all-time high. Celebrity endorsements from the likes of NBA star Steven Adams discussing his SHIB investment poured gasoline on the fire.
Overall in October 2021, Shiba Inu gained a staggering 1,100,000+% in value. Once derided as an afterthought memecoin trying to bite on Dogecoin‘s popularity, SHIB developed into a top 10 ranked crypto juggernaut at its peak.
Now trading down from its heights but still firmly amongst the crypto elite, the question around Shiba Inu becomes whether its foundation and fundamentals merit mainstream institutional investment.
Fundamental Analysis: Token Burn a Boon for Future Price?
Upon launch, 1 quadrillion SHIB coins were minted – an intentionally abundant supply to facilitate widespread usage per the coin‘s mysterious founder Ryoshi. To balance this initial circulation bloat, 412 trillion tokens have now been permanently burned and removed from supply. Burn mechanisms include:
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Vitalik Buterin burning 90% of the 50% of total supply gifted to him by Ryoshi
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Regular burns executed by the decentralized Shiba Inu team driving deflationary pressure
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Ongoing NFT projects and promotions that burn small portions of coins
This has led to current circulation fixed at 549 trillion with 41% of original coins burned so far. As buy and burn initiatives perpetuate further reducing supply, upward price pressure builds on SHIB facilitating future exponential gains.
Early price history indicates this limited supply dynamic witnessed in favorites like Bitcoin creates valuation expansion over time. If Shiba Inu transitions fully to an accepted, "normal" cryptocurrency, projections putting it conservatively at $0.0001+ become statistically reasonable based on total global wealth.
For now, SHIB remains risky and highly speculative. Yet down the road, eventual stability helping SHIB fulfill aims as an accessible, functional token seems probable when reviewing the statistics.
Mainstream Breakout Imminent? Reviewing Adoption Metrics
Despite monumental percentage gains and strong communal support, Shiba Inu ownership measured as a share of all cryptocurrency investors remains surprisingly low.
According to data aggregator Molly, just 6.3% of cryptocurrency buyers own SHIB compared to 17.8% holding leader Bitcoin and 14.7% with #2 Ethereum. This suggests the natural memecoin ceiling limiting widespread credibility has not been fully shattered.
Additional adoption statistics reveal more runway ahead as SHIB vies for primetime validation:
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Google Search popularity peaked on October 27th, 2021 during the coin‘s all-time high mania – but has since settled down significantly, still well below related terms like "Dogecoin" and "Bitcoin."
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Top business intelligence company Morning Consult finds just 12% of US adults even aware of Shiba Inu cryptocurrency – though this has tripled from 4% in July 2021.
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Only 18% of current SHIB owners have used the token for purchases or business transactions thus far based on survey data.
Considering the relative obscurity of SHIB in the mainstream conversation, an eventual breakout beyond just Reddit threads and Twitter depends on continuous education and access improvements around buying/using the asset.
With ownership rates so miniscule presently compared to its current valuation, anticipation ofConverts continues building as investors hypothesize what happens if/when Shiba Inu transitions from fringe memecoin to conventional top 10 market cap staple. Even the slightest uptick towards Bitcoin/Ethereum levels could multiply SHIB‘s price exponentially based on influx of new capital.
Conclusion: SHIB Defies Detractors by Force of Community
Reviewing the vital statistics behind the Shiba Inu ecosystem reveals a project launched on a whim that quickly transformed into an unstoppable freight train on the back of organic grassroots hype.
Through the power of community, SHIB went from zero to hero – embarrassing naysayers and cementing its status as a top cryptocurrency less than 18 months since inception.
Future growth depends on boosting adoption rates through continuous signposts of legitimacy via listings, partnerships and importance. Speculation will surely persist around if/when Robinhood or other major brokers add SHIB access.
Yet at its core, the X-factor differentiating Shiba Inu always comes back to the SHIB Army fanbase which united around their furry mascot to achieve unprecedented decentralization at scale.
If this community sticks together, the stats say coin burns pairing with an influx of new adopters could see SHIB eating up zeroes on its way to fulfilling its "Dogecoin Killer" destiny in the years ahead. Just don‘t blink or you might miss SHIB‘s next 1,000,000% explosion – whenever it comes!
