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$1,000 invested in SHIB at start of 2024 returned

source-logo  finbold.com 29 February 2024 15:26, UTC

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.