Like the rest of the cryptocurrency market, Shiba Inu (SHIB) also surged over the past day. The meme coin was up by over 7% and moved from a low of $0.00001701 to a high of $0.00001867 within a few hours. SHIB witnessed a slight correction at press time and traded at $0.00001823.
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Along with its price, the SHIB network’s trading volume saw a notable uptick. Over the past day, Shiba Inu’s trading volume rose by 190% to $543.36 million.
Can Shiba Inu Finally Reclaim Its All-Time High?
The cryptocurrency community has shelved its 1-cent dream and is betting on the meme coin to reclaim its all-time high of $0.0008845. SHIB reached this peak in October 2021, exactly three years ago. The meme coin will only achieve this level if the asset’s market cap reaches $500 billion.
Currently, SHIB’s market value is $10.75 billion. To reach its peak, the asset will have to rise by 4,629% from its current price level.
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How Many Tokens Should Citizens of These Countries Hold To Make the Most of This Rally?
The minimum wage in India hovers around INR 5,340 or $63.51 per month. At this rate, an Indian minimum-wage worker would accumulate INR 1.98 million, which is about $23,648, over 31 years to garner increased profits. Shiba Inu’s potential might condense several years of work into a single cash payoff for Turkish investors.
The gross minimum wage in Turkey was pushed to TRY 20,000, which is about $583 per month. At this rate, earning TRY 810,182 ($23,648) would take around 3.3 years. Things were even more challenging for Nigerian citizens.
The current minimum wage in Nigeria is NGN 70,000 per month, equivalent to around $43.19. At this rate, a Nigerian minimum wage worker would need to labor for nearly 45.6 years to earn NGN 38.3 million, or $23,648.
The minimum wage in Argentina, where inflation is high, is ARS 271,571 or $276 per month. One would have to labor for almost 7.1 years to earn ARS 23.64 million, or $23,648, through Shiba Inu.
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