Shiba Inu (SHIB) has always emerged as a reliable option for potential crypto traders who might not likely have robust investment funds.
The reasons for the above are not far-fetched. One of the justifications for the trend has always been Shiba Inu’s (SHIB) relatively low price. Aside from its low cost, being one of the top performers in the 2021 boom season, Shiba Inu (SHIB) made many investors millionaires.
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To crown it all, another strong selling point for Shiba Inu (SHIB) has also stemmed from its ecosystem’s unending quest for expansion. The Shiba Inu development team has introduced several projects to make the coin more attractive to potential investors.
Data on CoinGecko revealed that Shiba Inu (SHIB) is trading at $0.0000090.
Shiba Inu (SHIB) 2023 Price Actions
Looking at the Shiba Inu (SHIB) price chart in 2023, it is safe to say that the coin displayed potentials that portray it as a reliable option for short-term investment.
Notably, throughout 2023, Shiba Inu (SHIB) maintained levels above $0.00001 in the first four months. However, price declines began in May, resulting in a drop to values around the $0.000006 region.
The decline was transient, as Shiba Inu (SHIB) staged another rally, reclaiming $0.00001 in August 2023. After the recovery, another period of decline ensued, which saw SHIB drop to values around the $0.000006 to $0.000007 region again.
The price movements described above kept repeating in 2023, making it possible for investors to purchase Shiba Inu (SHIB) at its perceived lowest price for the year and sell once it attains price marks above $0.00001.
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$1,000 in SHIB Purchased In November 2023
In November 2023, one could purchase a single SHIB for as low as $0.0000077. So, a $1,000 investment at that time will be sufficient to procure about 129,870,130 SHIB.
At current prices, the above SHIB holdings will be worth approximately $1,168. This represents a profit of about $168 from a subtle spike of about 17% in roughly two months.
Meanwhile, Shiba Inu (SHIB) has continued to soar in adoption rate. Recently, it was announced that the meme coin had scored a new listing on a rising Indian-based trading platform, Flitpay.
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