Shiba Inu (SHIB) has been moving sideways for a while now. But the previous week was highly bullish for the meme coin. Over the past seven days, SHIB surged by nearly 9%.
The asset went from trading at a low of $0.00001301 to a high of almost $0.0000150. While this is a reasonably low rise considering SHIB’s previous ascent, the community hopes for much more.
Also Read: Can Binance Coin (BNB) Reclaim $700 by the End of September?
Recent Performance of Shiba Inu
In January 2021, Shiba Inu’s value increased by a notable 45,131%. This rally’s relevant background was highlighted in a CoinGecko report from last May. The report revealed that a $12 investment in SHIB yielded $1 million in 2021, which is an 8,333,233% spike.
At press time, SHIB was trading at $0.00001441, following a 2.31% dip over the past 24 hours. The meme coin’s daily volume also plummeted by 15% to $161,932,281.
Also Read: Does MetaMask Support Solana?
Shiba Inu’s 1000% Rally
Potential Returns For SHIB Investors
While reliving SHIB’s previous rally seems impossible at the moment, investors were hoping for a 1000% surge. But is it enough to bring enough returns to SHIB investors?
Considering SHIB’s current price level, investing $1,000 in Shiba Inu would yield 69084628.67 tokens. It should be noted that Shiba Inu would cost $0.0001518 if its value increased by 1000%. With this 1000% gain, the $1,000 investment would increase to $10,534.
Current Investor Sentiment
Most SHIB investors are at a loss at the asset’s current price. About 48% of holders were making money at its current price. A potential 1000% rise could be a game-changer for SHIB investors. This would further put more holders in the green, contrary to their current situation.
Also Read: Did Netflix Donate Money to Kamala Harris?
