This analysis explores how much $1,000 invested in Shiba Inu at $0.00001520 could grow if the token replicates its past 884,400% surge.
In the last 24 hours, Shiba Inu dipped to the $0.000014 level after an initial attempt to break into the $0.000016 region. The dip worsened Shiba Inu’s monthly performance, with a 26% loss. Meanwhile, SHIB is gradually recovering, trading at $0.00001520 at press time.
While Shiba Inu’s recent performance has been unimpressive, many are still hopeful due to its historical performance. This optimism stems from the fact that Shiba Inu was one of the best-performing tokens of the last cycle. It experienced a staggering 150 million percent gain from its low point.
In light of this, The Crypto Basic explores the potential worth of $1,000 invested in Shiba Inu today, assuming the asset successfully replicates its past performance.
Shiba Inu Historical Performance
Notably, Shiba Inu launched three months after Bitcoin’s 2020 halving with a modest price of $0.00000001 and minimal trading activity during Bitcoin’s late 2020 surge. However, on January 31, 2021, it gained attention, recording $5.7 million in trading volume. From then on, its trading volumes consistently hit million-dollar thresholds.
As Bitcoin peaked at $64,000 in April 2021, Shiba Inu rose to $0.00000417. By October 2021, it reached $0.00008845, marking an incredible 884,400% increase from the start of the year. Meanwhile, Bitcoin set a new all-time high of $68,789 in November.
In the current cycle, Bitcoin initially reached a peak of $73,750 in March 2024, and Shiba Inu rallied to a four-year high of $0.000045.
However, as Bitcoin has risen to the $100K level, reaching peaks near $110K, Shiba Inu’s performance has not mirrored Bitcoin’s. In fact, Shiba Inu has yet to regain the $0.000045 it reached in March 2024.
Worth of $1,000 in SHIB Today If It Repeats History
Nonetheless, if Shiba Inu replicates its 2020/2021 history and surges by 884,400% from its current price of $0.00001520, its unit price would rise to $0.13444.
Notably, $1,000 would buy approximately 65.78 million SHIB tokens. If Shiba Inu repeats the 884,400% historical surge, this portfolio could expand to $8.84 million.
However, the chances of Shiba Inu rallying by 884,400% as seen in the 2021 cycle are slim. This is mainly due to Shiba Inu’s current multi-billion dollar market cap, compared to just a few thousand in the past.
This high cap limits its growth, as reaching $0.134 would push its market cap to $80 trillion—an unrealistic expectation in the near term. Analysts suggest it could take until 2050 for Shiba Inu to reach a $0.134 price.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.