finbold.com
Shiba Inu ($SHIB) experienced an exponential surge in the previous month, resulting in gains of over 50% and breaking through the $0.00001 psychological resistance level.
With this recent surge in $SHIB price, investor interest has reignited, prompting traders to contemplate the investment potential of this digital token.
As a result, Finbold calculated the current value of $1,000 invested in $SHIB at the beginning of 2024.
Further technological improvements as a catalyst for $SHIB growth
On February 28, Shiba Inu revealed that it is collaborating with Zama, an open-source cryptography company, to introduce a new privacy-focused network atop the Shibarium blockchain.
In addition to surging by 56.36% in the last month, its market capitalization skyrocketed by an impressive $1.97 billion in just one day, reaching $8.59 billion before retracing to the current total of $8.24 billion.
What would $1,000 invested in $SHIB be worth now?
If you were one of the patient traders who held $SHIB since the start of 2024, despite its numerous unsuccessful attempts to surpass the $0.00001 resistance level, you’d now be enjoying a handsome profit thanks to this meme coin.
For instance, if you bought $1,000 worth of Shiba Inu during the New Year holidays, by February 29, it would be valued at $1,342, resulting in a profit of $342 added to your investment portfolio.
Based on data from IntoTheBlock, more than 56% of Shiba Inu holders are enjoying investment gains. This marks a significant shift from September of last year when around 90% of $SHIB investors found themselves in a loss position.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.