In contrast to the overall market, Shiba Inu [SHIB] was showing an upward trend. During the last day, the meme coin has increased by about 3%, defying the odds. The asset was trading at $0.00001684 at the time of writing. SHIB increased to a high of $0.00001700 earlier today. The SHIB market continued to feel hopeful because of this rise. Some even went so far as to say that the meme currency would repeat the bull market’s surge in 2020 and 2021. But if the asset were to replicate this move, how high might SHIB surge?
Shiba Inu saw an increase of 76,000,000% during this time. Several investors who invested as little as $12 in 2020 realized $1 million in returns by 2021. This came when Vitalik Buterin, the co-founder of Ethereum, decided to burn a staggering 410 trillion SHIB tokens. Amidst this, SHIB surged to an all-time high of $0.00008845 in October 2021.
Also Read: Can Burning 410 Trillion Shiba Inu Lead To New All-Time High?
Can Shiba Inu Surge By 76,000,000% Again?
The market is uncertain and it is hard to predict the future of these tokens. But the meme coin market also has potential and SHIB could repeat its move. Currently, SHIB is aiming to retake the $0.000016 price range. Shiba Inu’s price has dropped 82% from its all-time high of $0.00008845 to its present level. It is the opinion of some analysts that SHIB can rise over this record high. Some expect the asset could even delete a zero very soon. Others believe that the token will spike to $0.00045. Notably, Shiba Inu would surpass all these expert targets if the 2020–2021 spike were repeated.
Also Read: Shiba Inu: Decoding SHIB’s Crash This Week
SHIB should reasonably report a market capitalization of $709 trillion. However, achieving this value is nearly unattainable and extremely costly. As a result, there is very little probability that this pattern will reoccur.
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