By Pradeep Saran, September 18, 2023
Shiba Inu, since its inception three years ago, quickly gained popularity in the cryptocurrency market. It achieved its all-time high (ATH) in 2021 but experienced a significant decline when the market turned bearish. However, like many other mid-cap cryptocurrencies, Shiba Inu weathered the tough times and, as of the current moment, holds a market capitalization of $4.3 billion, with a trading price of $0.00000741.
Shiba Inu reached its peak price of $0.00008616 on October 28, 2021, but has since dropped by over 91%, leaving investors who bought during the peak in a challenging situation. In contrast, SHIB has come a long way from its all-time low in 2020, having shed numerous zeros along the way. Data from CoinGecko indicates that the asset has witnessed a staggering increase of several million percent from its lowest point, resulting in early investors seeing substantial gains.
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The journey of Shiba Inu through the years has been marked by significant fluctuations. It initially traded at $0.000000000510 during its launch, then halved in value, and added an extra zero by the end of 2020. This meant that a $1000 investment during SHIB’s early days first decreased to $550.98 and then plummeted to $1.96.
However, the bullish market of 2021 drastically changed SHIB’s fortune as the investment skyrocketed to $19,606 and then to $98,000 in Q1. By May, it had surged to an astonishing $17.25 million. In early October, as SHIB was heading towards its ATH, the investment was valued at over $55 million. Around the same time the following year, in October 2022, its value declined to $19 million.
As of early April 2023, it stood at $22.2 million.At the current price of $0.00000741, a $1000 investment is now worth approximately $14.5 million. Clearly, early investors have experienced their fair share of highs and lows over the years, but they currently find themselves in a profitable position.
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