There is no denying Shiba Inu’s (SHIB) popularity among crypto fans and investors. The asset had a meteoric rise in the 2021 crypto market bull run, rallying by many million percent in just one year. SHIB’s stellar returns solidified its status as a millionaire-maker.
If you had invested $100 weekly since SHIB’s launch in August 2020 till today, you would have put in $19,500. However, your portfolio’s value would have risen to $594.30 million, a growth of about 3,047,601% (3.04 million percent).
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Furthermore, if you had invested $100 weekly till Shiba Inu (SHIB) hit its all-time high in October 2021, you would have put in $6,200. However, in this scenario, your portfolio’s value would have skyrocketed to a whopping $1.16 billion, a growth of around 18,718,732% (18.71 million percent).
SHIB’s massive returns made it an incredibly popular choice among young crypto investors. However, the asset’s price has significantly fallen from its 2021 peak.
Will Shiba Inu (SHIB) reclaim its all-time high in 2024?
SHIB is currently down by over 72% from its all-time high of $0.00008616. The asset has faced a significant correction over the last few days, falling 4.5% in the daily chart, 6.2% in the weekly chart, 6.7% in the 14-day chart, and more than 3% over the previous week.
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Despite the recent correction, many analysts anticipate Shiba Inu (SHIB) to rally over the next few weeks. According to CoinCodex, SHIB could reclaim the $0.00008 level very soon. The platform anticipates the asset to surge to $0.00008336 on July 2, 2024, a rise of about 248.9% from current levels. If SHIB reclaims the $0.00008 level, the asset may hit a new all-time high.
Changelly also anticipates SHIB to rally over the next few days, hitting $0.00003713 on June 10, 2024.