Shiba Inu began trading in the indices at a moderate price of $0.000000000972241 on their launch date of August 1, 2020. The dog-themed token crashed and added an extra zero the same year; it began trading with 10 zeroes in December 2020. However, 2021 was a game-changer for SHIB as it kickstarted a zero-deleting spree.
From December 2020 to 2021, Shiba Inu deleted six zeros, making early investors turn millionaires with their holdings. The phenomenal run put Shiba Inu on the map and brought it to the top 20 cryptos to watch out for.
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Here’s How Many ‘Zeroes’ Shiba Inu Deleted From December 2021 to 2022
Shiba Inu jumped 1,000% in October 2021, reaching its all-time high of $0.00008616. In December 2021, SHIB was trading at 0.00004404, with four zeroes, and was ready to step into 2022 with high hopes.
However, the bear market began around January 2022 and has remained the same for 12 months straight. This added pressure to SHIB’s prospects in the indices, and the FTX-induced crash sent Shiba Inu spiraling down.
The canine-themed token plummeted more than 30% during the FTX crash, sending its price under $0.000008. SHIB is unable to claw back to its previous highs, as the bear markets were stunting its growth.
In December 2022, Shiba Inu is trading at $0.00000924 with five zeros. It has added an extra zero compared to December 2021 rather than deleting it.
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If the global economy faces a recession in 2023, SHIB might add further ‘zeros’ next year instead of deleting them. Therefore, SHIB is currently at the crossroads of a downward trend rather than heading north next year.
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At press time, SHIB was trading at $0.00000924 and is up 0.7% in the 24 hours day trade. SHIB is down 89.2% from its all time high of $0.00008616, which it reached in October 2021.