With an imminent Shibarium mainnet launch in the next couple of days probably, hope seems renewed about the prospect of Shiba Inu (SHIB) reclaiming its previous all-time High (ATH). Recall that SHIB recorded an ATH on October 28, 2021, when it attained the $0.00008616 price level.
Although the Shibarium was marked to be a driving force that would spike SHIB’s market worth, the digital asset appears to be doing well merely by the hype that seemed to accompany the Layer 2 scaling network solution anticipated launch.
Read Also: Top SHIB Influencer Says Shiba Inu Ecosystem Gearing Up To Initiate Next Bull Run
Shiba Inu (SHIB) Deletes One Zero Once Again
Notably, Shiba Inu (SHIB) recently deleted a zero to break above the $0.00001 resistance. However, the dog-themed digital asset could not withstand the bearish pressure. So, SHIB failed to make $0.00001 its support level. But it has once again displayed resilience and surged above the $0.00001 resistance once again.
At the time of filing this report, SHIB is trading at $0.00001008, with a relatively 4% price uptrend in the last 24 hours, according to CoinMarketCap.
Considering Shibarium’s unique features, especially the capacity to burn lots of tokens, reclaiming and surpassing SHIB price ATH remains achievable.
In light of the anticipated surge in Shiba Inu’s price, we would be analyzing potential profits from investing a thousand dollars in SHIB.
Investing $1000 In SHIB: Potential Profit
Shiba Inu’s current price level of $0.00001008 implies about 99,206,349 SHIB holdings with a thousand-dollar investment capital. Should SHIB succeed in reclaiming its ATH, the 99,206,349 SHIB will now be valued at approximately $8,550, implying a profit in the range of $7,550.
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Read Also: Top SHIB Influencer Says Shiba Inu Ecosystem Gearing Up To Initiate Next Bull Run
Factors That Might Impede Shiba Inu (SHIB) Price Ascent
While it remains uncertain that Shiba Inu would go on to attain its previous ATH, several factors have been identified to limit the token’s price ascent.
The most significant impedance to most crypto assets’ growth is the instability and volatility of the overall crypto sphere. Generally, an all-around impressive market outlook will positively impact most crypto projects, especially regarding market valuation and adoption.
Other factors include future adjustments to crypto regulatory guidelines as seen in the United States Securities and Exchange Commission (SEC) vs. Ripple legal dispute and the impact the whole legal proceedings had on XRP price compared to XRP’s impressive market printings following Ripple’s victory in the law court.
In conclusion, crypto investments remain unpredictable and require astute knowledge of technical and market trends to avoid investment mistakes.
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