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Shiba Inu was trading with four ‘zeroes’ on January 1, 2024, at a price range of $0.00001030. Therefore, an investment of $1,000 could have made investors accumulate nearly 97,087,378 (97 million) SHIB tokens.
SHIB kick-started a massive rally during Q1 of 2024 delivering stellar profits to investors. The U.S. Securities and Exchange Commission (SEC) approved the Bitcoin ETF in mid-January this year leading to the price rally. Bitcoin rallied hard and hit a new all-time high of $73,737 in mid-March while Shiba Inu followed suit.
Also Read: Shiba Inu (SHIB) Price Prediction After Bitcoin Halving
While Bitcoin reached its ATH, Shiba Inu’s price also hit a yearly high of $0.00004400 at the same time. Both BTC and SHIB printed stellar profits to investors who took an entry position before January 2024.
Also Read: Shiba Inu: How To Make $1 Million If SHIB’s Price Hits $0.001
Shiba Inu: If You Invested $1,000 on January 1, 2024, How Much Money Could You Have Made Today?
For $1,000, you could have accumulated 97 million SHIB tokens on January 1, 2024, for a price of $0.00001030. Shiba Inu is currently trading in the $0.00002775 price range on Monday. Therefore, SHIB has spiked nearly 170% in price from January 1, 2024 to Match 25, 2024.
Also Read: SHIB: Investment of $4,400 Grows To $50 Million Today
In conclusion, an investment of $1,000 on Jan 1, 2024, could have turned into $2,700 today on March, 25. That’s an uptick and return on investment (ROI) of approximately 170% in just 84 days.
The upcoming Bitcoin halving event could also make Shiba Inu scale up in price further. The Bitcoin halving event is scheduled to be held on April 20, 2024. For the uninitiated, the Bitcoin halving event will cut BTC’s supply in half making the leading cryptocurrency become scarce.
When Bitcoin is scarcely available, and demand rises, the price of BTC will automatically shoot up. If BTC scales up in price, then SHIB will follow suit and begin to rally in the charts.
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