dark
Hand-Picked Top-Read Stories
Trending Tags
2 minute read

Shiba Inu: If You Invested $1000 In 2020, How Much Could You Make?

Vignesh Karunanidhi
Vignesh Karunanidhi
January 26, 2024
With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

Shiba Inu witnessed meteoric returns in its early days, turning a modest $1,000 investment in 2020 into a substantial fortune for some by 2021. These early adopters experienced remarkable profits, becoming millionaires within a relatively short span.

The dog-themed token, which had previously seen explosive growth, experienced a noticeable decline and struggled to regain its previous price levels.

The prevailing bearish sentiment in the cryptocurrency markets has tested the patience of investors, particularly as leading cryptocurrencies have shown a tendency to move backward rather than forward. Stories of individuals amassing wealth through Shiba Inu investments, which were prevalent in the past, have become less frequent due to the ongoing bear markets.

Also read: Shiba Inu: What Could a $1,000 SHIB Investment Yield in 2025?

Shiba Inu

Price Performance

Shiba Inu reached its all-time high of $0.00008616 in October 2021. However, its value has been on a declining trajectory since then. As of September 2020, SHIB was trading at $0.00000000008165.

With a $1,000 investment at that time, one could have acquired approximately 12.24 quadrillion SHIB. Fast forward to the present: SHIB’s price has dwindled to $0.000009569, resulting in a significant decrease in value since 2021.

Shiba Inu: How Much Would a $1,000 Investment in 2020 Be Worth Today?

Shiba Inu ladder climb ATH all time high SHIB

For those who invested $1,000 in Shiba Inu in 2020, the investment is currently worth approximately $116,849,760,000 as of now. This translates to a profit of 716933.31%.

Also read: Shiba Inu: Google Bard Predicts SHIB Price If Bitcoin Touches $500,000

At the time of writing, SHIB was trading at $0.000009569, reflecting a 1% drop in the past 24 hours. Moreover, SHIB has experienced a substantial drop of 89% from its all-time high of $0.00008616, recorded in October 2021.

In summary, Shiba Inu’s journey has exemplified the volatile nature of cryptocurrency investments. While early investors reaped substantial gains, recent entrants have faced the challenges posed by a bearish market, leading to significant losses in their investments.

Tweet
Share
Share
Share