Shiba Inu could record a meteoric price increase if it replicates the historic 7,692,207% surge observed between 2020 and 2021.
Many investors consider Shiba Inu to be one of the most successful crypto projects in the market. This assertion is triggered by Shiba Inu’s impressive performance in its early days.
Shiba Inu Rich History
For context, Shiba Inu officially launched on August 1, 2020. The token struggled in its early days, with its price plummeting heavily in subsequent months. As a result, many dismissed SHIB as just another failed memecoin experiment.
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Not relenting, the Shiba Inu ecosystem team adopted an efficient marketing strategy that eventually put SHIB in the limelight. According to reports, Shiba Inu’s pseudonymous founder, Ryoshi, sent half of SHIB’s total supply (500 trillion tokens) to Ethereum co-founder Vitalik Buterin in 2021.
With Buterin
expecting
Shiba Inu to become worthless in the short term, he immediately
burned
410.24 trillion of these tokens and sent the remaining to charities. However, Shiba Inu’s value surged tremendously like a seed planted on fertile soil. SHIB proceeded to hit an all-time high of $0.00008845 in October 2021, elevating the token to the list of the top 10 biggest crypto assets by market cap at the time.
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SHIB Surges 7,692,207% in 2020/2021
This meteoric price increase transformed early Shiba Inu investors into overnight millionaires. Notably, popular crypto price tracking platform CoinGecko
reported
that early investors who invested $12 in Shiba Inu in 2020 cashed out $1 million the following year.
It bears mentioning that this tremendous growth represents an increase of 7,692,207%. Shiba Inu’s success story motivated new investors to acquire SHIB, with the hope that the token could replicate its 2021 rally in the 2024/2025 bull market.
Experts Say SHIB Is Mirroring Its 2021 Pattern
While it is unlikely that Shiba Inu could repeat the rally due to its hefty circulating supply, several experts have issued multiple analyses showing that SHIB is mirroring its 2021 trend.
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In April, top crypto educationist Rafaela Ligo
emphasized
that Shiba Inu was mirroring a pattern it exhibited in the 2021 bull run, which could pave the way for a remarkable rally.
Here is SHIB’s Price If It Repeats Its 2021 Rally of 7,692,207%
As this speculation gains momentum, we analyzed how much SHIB could be worth if it registers another 7,692,207% surge in this bull run, as it did in 2021. Currently, Shiba Inu is trading at $0.00001430, down 0.35% in the past 24 hours.
SHIBUSDT 2024 09 21 09 47 20
Applying the 7,692,207% growth rate to Shiba Inu’s current price would elevate the asset’s value to $1.1. This jaw-dropping price increase could take Shiba Inu’s market cap from $8.41 billion to $647.68 trillion, assuming the token’s circulating supply remains stable at 589.27 trillion.
Should Shiba Inu attain this price, a portfolio of 10 million SHIB (currently worth $143) would be valued at $11 million.
Disclaimer: 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’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
