Shiba Inu was launched on August 1, 2020, at a modest price of $0.000000000972241 (nine ‘zeroes’). Three months post its launch in November 2020, SHIB fell dramatically in the market and added an extra ‘zero’. SHIB was trading with 10 ‘zeroes’ during the end of 2020 after it reached an all-time low of $0.000000000056 (10 ‘zeroes’).
However, Shiba Inu’s fortunes changed for good in 2021 after it deleted six ‘zeroes’ in less than 365 days, making early investors millionaires. Read here to know how two low-wage workers made millions by investing in SHIB during its initial days. Currently, the dog-themed token is still trading with four ‘zeroes’ in the indices and questions arise “can Shiba Inu delete a ‘zero’ this year?”
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Can Shiba Inu Delete A ‘Zero’ This Year (2022)?
SHIB has been mostly trading on the backfoot this year generating little or no profits for investors. The token is testing the patience of its holders by mostly moving backward for seven months straight.
The last time Shiba Inu went ballistic was in October 2021, when it jumped 1,000% in 30 trading days. SHIB knocked out a ‘zero’ then but added yet another ‘zero’ last month during the crypto crash. However, it quickly recovered and got back to trading with four ‘zeroes’.
For Shiba Inu to delete a ‘zero’ yet again, the token needs to spike nearly 1,000% within the next five months. Considering that the global economy is in turmoil due to skyrocketing inflation, a looming recession, and lower purchasing power, the chances of SHIB jumping by another 1,000% and deleting a ‘zero’ this year is slim.
Also Read: SHIB Meets Golden Hour: Attracts 94% Buying Pressure After Market Recovery
Read here to know the global factors that are indicating a crash for both the stock and crypto markets.
However, on the upside, The launch of the Shibarium layer-2 solution can get Shiba Inu moving up in price. Whether Shibarium will guide SHIB to delete a ‘zero’ immediately after launch is questionable. Moreover, the Shibarium launch date is yet to be announced and only the public beta testnet would be released before September.
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At press time, Shiba Inu was trading at $0.00001140 and is up 6.3% in the 24 hours day trade. SHIB is down 86.8% from its all-time high of $0.000086158837, which it reached in October 2021.