Shiba Inu, since its inception, has been dubbed a meme coin, while several investors doubted its potential to deliver stunning returns. However, in a turn of events, Shiba Inu turned out to be one of the biggest crypto tokens of all time, disseminating millions to those who expressed their unwavering faith in SHIB’s future price trajectory.
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Shiba Inu: A Millionaire Maker
According to the Dollar Cost Averaging Index, a monthly investment of a modest $10 made in August 2020 would’ve fetched investors rewards up to $15 million in 2024.
In simpler terms, a meager investment of $450 committed by an investor for three years would have disseminated stunning returns, nearly distributing $15.6 million, per the DCA calculator. In less than four years, Shiba Inu grew exponentially, roughly dispersing profits higher than 3 million percent.
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The striking price ascent of SHIB was primarily driven by its robust price rally in 2020–2021. It was the time when the coin witnessed maximum traction and price spikes that helped SHIB holistically set its future path.
Post-2021, the coin dipped further ahead, ending its bullish price ascent. The token currently holds steady ground, rising gradually to breach new price milestones. SHIB briefly recovered its price in March 2024, shedding its bearish stance to a certain level.
The astonishing return rate is what makes cryptocurrency a lucrative domain for traders. However, the key to unlocking this domain depends highly on how well an investor knows his tokens and the faith and patience they can endure for the token to gain prominence in the mainstream market.
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Future Prospects: Price in April-May
The new bullish cycle has ushered in a new price era for Shiba Inu. The token is currently trading at $0.0000226, up 4% in the last 24 hours.
Per CoinCodex, Shiba Inu may spike by a staggering 226% by May 18.
The price of Shib is predicted to rise by 226.24% and reach $0.00007404 by May 19, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 66 (greed). Shiba Inu recorded 15/30 (50%) green days with 9.99% price volatility over the last 30 days.”