Meme coin Shiba Inu (SHIB) has fallen more than 90 percent from its 2021 peak, but early investors still appear to see it as a leading wealth-creation example in the cryptocurrency market.

The Crypto Basic, a blockchain outlet, reported on May 27 that a $1,000 investment at Shiba Inu’s low in November 2020 would now be worth $99.1 million.

The figure was presented as BSC News revisited Shiba Inu’s surge history. CoinGecko data showed Shiba Inu fell to $0.00000000005637 in November 2020. Investing $1,000 at that price would have allowed an investor to buy about 17.74 billion SHIB. At the current price of $0.000005587, that holding would be worth $99.1 million.

Shiba Inu was tallied as an asset that rose more than 150 million percent from its all-time low. Even with its current price about 93.7 percent below the high it recorded during the 2021 meme coin boom, the return for early investors remains unusually high.

Shiba Inu began as a meme-led cryptocurrency at launch, but later expanded its market presence through an inflow of retail investors, the spread of online communities and a shift toward development focused on real-world use. The token peaked at $0.00008845 on Oct. 28, 2021. The $1,000 invested at the 2020 low would have grown to $1.56 billion at that time.

Performance varied widely depending on entry timing. An investor who put $1,000 in at the 2021 peak would now have $631 left. As investors who entered after the surge suffered heavy losses, some moved to cut losses, and some in the market have pointed to the possibility that Shiba Inu may struggle to replicate a similarly explosive rise.

Factors cited behind pessimism included intensifying competition, concerns about the development team and an excessive circulating supply. Supporters, meanwhile, are maintaining expectations for the next meme coin rotation. Crypto analyst Shelby argued Shiba Inu could show a strong rally in the next meme coin cycle, the so-called "dog season."

Shiba Inu’s current task is to find drivers that can support future demand, rather than relying on its past surge history. As a meme coin, price volatility can increase depending on community cohesion and market liquidity, but the burden of circulating supply and the spread of competing meme coins are still cited as factors limiting gains.

In this way, Shiba Inu is cited as a case showing both sides of the meme coin market even during a price correction. Early entrants earned huge profits on small investments, while those who chased the peak were left with big losses. The market is focusing not only on whether Shiba Inu can rebound next, but also on whether extreme returns like those seen in the past can be repeated.