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Here’s the Shiba Inu Price If It Increased by 7,600,000% in 2021
If the Shiba Inu price ever replicates the historic 76,000,000% gain seen between 2020 and the 2021 bull run, it could hit a new and unexpected high.
One of the main factors behind Shiba Inu’s appeal is its rich history. Launched in August 2020, SHIB emerged to compete with Dogecoin (DOGE)’s dominance in the meme coin scene. However, most industry leaders considered it one of the many meme coin experiments in the market.
Historic success of the Shiba Inu
Ethereum founder Vitalik Buterin was one such industry leader. Buterin received half of the SHIB supply but sent the tokens to various charities and burned the rest in May 2021. Ethereum founder recently confirmed who regarded the Shiba Inu as another memetic currency that would soon become useless.
Interestingly, Shiba Inu has surpassed its own expectations and those of other industry leaders. It quickly became the second meme coin to enter the top 10 of the largest assets. This was a result of its meteoric price increase from 2020 to 2021.
In a report last MayPrice tracking platform CoinGecko highlighted that Shiba Inu is among the most successful cryptocurrency tokens. They revealed that investors who committed $12 to SHIB in 2020 saw their investments increase to $1 million in 2021. This represented a 7,692,207% increase and was due to Shiba Inu’s astronomical rally to $0.00008845 in October 2021.
New investors have flocked to the market, hoping for a repeat of this price surge. However, such a repeat is highly unlikely due to the current circulating supply of Shiba Inu. However, this reality has not stopped some investors from clinging to optimism.
What would happen if SHIB repeated the 2021 race?
Amid the sentiment, The Crypto Basic recently assessed how high Shiba Inu’s price would be if it repeats its rally. Specifically, SHIB is currently trading at $0.00001566, trying to reclaim the $0.000016 price territory. At its current price, Shiba Inu is down 82% from its all-time high of $0.00008845.
Many analysts believe that SHIB is capable of surpassing this all-time high. Some to expect an imminent rally to $0.000165. However, others see the token peaking at $0.00045In particular, a repeat of the 2020-2021 surge would push the Shiba Inu beyond any ambitious targets set by analysts.
If Shiba Inu increases at the same rate of 7,692,207%, its price will rise from its current value of $0.00001566 to $1.2046. At this value, investors holding 100 million tokens worth $1,566 will see their investments rise to $120.46 million.
If the circulating supply of Shiba Inu remains fairly stable, this price would lead to a market cap of $709 trillion. However, there is not enough money in the world to support this valuation. As a result, it is highly unlikely that Shiba Inu will repeat its historic run. However, analysts believe that it still has room for further growth.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal views of the author and do not reflect the views of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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