Shiba Inu (SHIB) is trading at some its lowest levels in its history. The popular memecoin fell to $0.0000043 earlier this month, a level not seen since early 2021. The asset has made a slight recovery over the last few days, following a market-wide rebound. As of writing, SHIB is trading at just below the $0.000005 price level, according to CoinGecko data. This means that you can now buy 1 million Shiba Inu (SHIB) coins for just under $5. Let’s discuss if it is actually worth buy the memecoin today.
Is Is Worth Buying 1 Million Shiba Inu Coins For Under $5?
Shiba Inu (SHIB) had delivered some of the biggest gains during the 2021 bull run. Investors with minimal capital made massive returns within months. While the current prices may be at bottom levels, if you had purchased SHIB in its early days, you would have still been in profit. According to Changelly’s Shiba Inu ROI (Return on Investment) calculator, just $14 worth of SHIB would be worth more than $1 million today.
Although SHIB has had an amazing run in the bull market of 2021, it is not clear as to whether this asset can achieve the same levels of success in the future. Vitalik Buterin’s massive burn contributed to SHIB’s 2021 rally. The Ethereum co-founder received half of all of the SHIB tokens but chose to burn 90% of the tokens he was allocated. As a result of Buterin’s actions, there was a significant drop in supply as demand rose. The situation for Shiba Inu (SHIB) was no different, as it surged to a new high of $0.00008616. If you had bought SHIB at that time, you would have been sitting on big gains.
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Shiba Inu (SHIB) has lost substantial luster over the last few years. The memecoin even failed to gain momentum when Bitcoin (BTC) climbed to its latest peak of $126,080. A majority of SHIB investors are sitting on losses and are quite fed up with the coins performance. Most SHIB holders may dump the coin if it climbs to their average buying price. While SHIB has a legendary status among fans, the asset may not deliver 2021-like returns anytime soon.