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Shiba Inu ($SHIB), the meme-inspired cryptocurrency, ended 2024 on a high note, staying above the key $0.00002 price point. This level, which is both psychological and technical, might mean more than just a year-end win. It could be the new minimum price floor for the token as 2025 begins.
$SHIB climbed steadily throughout 2024, ending the year with solid 104.44% growth. It started just above $0.00001036 and then went up, ending up breaking through $0.00002.
$SHIB's past performance tells an interesting story. Most years have ended well, except for 2022, when it dropped 75.8% — a bit of a bummer. That year sticks out like an anomaly in an otherwise solid track record. The next few years still saw gains: 27.8% in 2023, an awesome 2,665% in 2021, and now another triple-digit percentage rise in 2024.
This upward trend is not perfect, but it shows that the Shiba Inu token can bounce back and grow even after an 80% correction. The fact that the price has been able to stay above $0.00002 at the end of each year makes it seem like this might become the new baseline, which would give long-term holders more confidence.
It's not just about making money; it's about staying strong. The new year is starting with this meme token in a pretty interesting spot. It has solid price support, it has performed well over the last year, and its trajectory has been mostly up.
It is unclear if $0.00002 will become the new minimum for $SHIB, but it seems like the conditions are good for the token to keep building on its momentum. As we head into 2025, it's all about the maintenance.