Shiba Inu (SHIB) has been among the best-performing crypto assets for the last four years. Since its launch in August 2020, to reaching its all-time high of $0.00008616 in October 2021, SHIB’s price rallied by many million percent. Many early investors made millions of dollars in profit if not billions. However, the asset has more or less struggled since its 2021 high. SHIB is currently down by 72.5% from its all-time high.
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SHIB’s plummet from its 2021 peak is likely due to the bearish market conditions in 2022 and 2023. However, SHIB fans and investors are pursuing higher prices for the asset.
When will Shiba Inu (SHIB) reclaim its all-time high?
According to CoinCodex, SHIB could surge to $0.00007993 on May 27, 2024, about 7.8% away from its 2021 peak. If SHIB can hold its price at $0.00007993, the asset may hit a new all-time high in May or June.
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Changelly also paints a bullish picture for Shiba Inu (SHIB) in May. The platform anticipates SHIB to hit $0.00008351 on May 25, 2024.
Both platforms anticipate SHIB to get very close to its all-time high of $0.00008616 next month. If the asset continues its bullish outlook, it may surpass its previous peak.
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One of the most significant barriers to Shiba Inu’s (SHIB) price is its massive 589 trillion supply. If the team can reduce the asset’s circulating supply, its price may skyrocket. One of the most impactful moves that helped SHIB rally in 2021 was Vitalik Buterin’s massive burn. Buterin received half the SHIB supply upon launch. However, the Ethereum co-founder decided to burn 90% of the tokens he received.