Following the latest happenings in the crypto sphere, Shiba Inu appears set for a longer bearish run as all indications in the market seemed to be against the Dog-themed meme coin. Despite struggling to remain afloat, SHIB has fallen to a price low of $0.00000679.
Shiba Inu (SHIB) price implies two things for two different sets of investors. The first category of investors lost hope in the project. While the second group sees SHIB’s recent fall in price as an opportunity to amass more coins at a discounted price while hoping for a new bull run.
Possibilities Of Attaining A New All-Time High
Per CoinGecko, a renowned crypto data tracking site, Shiba Inu recorded an all-time high on October 28th, 2021, when it sold for $0.00008616. SHIB’s rally that culminated in its ATH was between March 2021 to October 28th. The spiked from $0.0000000166 to $0.00008845, which implies a remarkable 532,731% increase in less than eight months.
Unfortunately, Shiba Inu witnessed a massive fall down the pecking order, shedding off significant profits. Its current selling price of $0.00000680 indicates a 92.11% decline in price from ATH.
Expected ROI For $100 or $1,000 Investment If SHIB Hits ATH
A $100 investment in SHIB would amount to amassing approximately 14.83 million tokens based on the token’s current price. Peradventure the digital asset ends up ascending to its previous all-time high of $0.00008616, which implies that investors would scoop $1,220 in profits.
Also, a $1,000 investment in Shiba Inu would amount to a $12,220 gain for investors if the token succeeds in attaining its ATH. Based on blockchain analysis, Shiba Inu has a higher chance of reaching its previous ATH than actualizing the projected $0.001 price level.
The Shiba Inu community remains hopeful of a positive turnaround in SHIB’s fortune with the launch of Shibarium, SHIB cold wallets, and an improved Shiba Inu’s metaverse. These are expected to boost its chance to attract more demand and utility.
In summary, considering the instability and volatility of the crypto market, crypto investors are encouraged to do their research before delving into any crypto project.
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