Shiba Inu was launched on Aug. 1, 2020, at a modest price of $0.000000000972 (nine zeroes). The token mostly traded on the back foot the entire year but kick-started a ‘zero’ deleting spree from early 2021. SHIB was among the most sought-after cryptocurrency and touched a market cap of $1 billion during its peak fame. The phenomenal rise after deleting six ‘zeroes’ in 10 months made Shiba Inu among the best-performing cryptocurrencies in 2021.
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However, as the saying goes, ‘all good things come to an end’, SHIB declined in price after reaching its all-time high of $0.00008616 in October 2021. The phenomenon is now a thing of the past despite its market cap currently above the $5 billion mark. Nonetheless, its trading volume is on a decline since Q2 of 2021.
Shiba Inu: When Did SHIB Reach $1 Billion In Market Cap?
Shiba Inu touched $1 billion in market cap less than a year of its launch. It took SHIB just 279 days to grow from a market cap of $1 million to a high of $1 billion. Therefore, Shiba Inu reached $1 billion in market cap on May 6, 2021. All it took was 9 months and five days to get to the billion-dollar mark.
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SHIB was the talk of the town during this period and the ‘who’s who’ of the crypto industry was all over it. Leading media outlets relentlessly covered stories of how a $1,000 investment turned to $1 million and the move attracted thousands of new and first-time investors into its fold. The Ryoshi-founded token even elbowed Dogecoin and basked in the limelight during the second half of the year.
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At press time, SHIB was trading at $0.00000868 and is down 2% in the 24-hours day trade. SHIB is also down 89.91% from its all-time high of $0.00008616, which it reached in October 2021.
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