thecryptobasic.com
Shiba Inu price could surge to an ambitious double-digit figure if SHIB repeats the 150,000,000% increase recorded in its early days.
Shiba Inu is one of the most successful cryptocurrencies in the market despite its origins as a meme coin. Launched in August 2020 by the anonymous Ryoshi, SHIB quickly gained prominence amid a surge in demand, taking it to the top 10 list of largest cryptocurrencies by market cap in late 2021.
Shiba Inu’s Success Story
On August 1, the Shiba Inu ecosystem team celebrated the fourth anniversary of SHIB’s birth. Marketing Lead Lucie spotlighted the token’s success despite its humble beginnings, stressing that it witnessed a remarkable 150,000,000% increase from its opening price to the all-time high of $0.00008616 in October 2021.
Despite Shiba Inu’s subsequent collapse from the all-time high price, at its current price of $0.00001460, the crypto asset maintains a massive 26,071,328% increase from the opening price of $0.000000000056, securing its position as one of the most successful assets.
Interestingly, at the prevailing price, an investor who committed just $10 into a Shiba Inu investment when it launched would still be sitting on an astonishing $2.6 million profit. This reality has bolstered the interest in Shiba Inu, as market participants anticipate a repeat of the previous uptrend.
Shiba Inu Price if It Rallies 150,000,000%
The general consensus is that SHIB has the potential to surpass the previous cycle’s all-time high. However, the extent of the projected rally remains speculative. Amid the constant speculation, The Crypto Basic recently presented a hypothetical assessment of Shiba Inu’s price should it replicate the previous 150,000,000% rally recorded in 2021.
Notably, Shiba Inu currently changes hands at $0.00001460, having collapsed 14% over the past week. A 150,000,000% rally from the current price would see SHIB shed off all its leading zeros and skyrocket to a two-digit price. Specifically, such a rally could push Shiba Inu to an unattainable value of $21.9.
SHIB’s current circulating supply poses a massive roadblock to such a rally. With a circulating supply of 589 trillion tokens, a $21.9 price would trigger a market cap that even surpasses the trillion-dollar territory. For context, the largest asset, Gold, has a market cap of $16 trillion.
For Shiba Inu to ever record such an audacious rally, its circulating supply must drastically reduce below 1 trillion tokens. This reduction is unlikely to occur due to the decentralized distribution of Shiba Inu tokens across multiple investors.