$1000 Investment in 2020 Turns Into $11 Million in 2024

Shiba Inu (SHIB) is one of the most popular cryptocurrencies among new investors. SHIB’s meteoric rally from 2020 to 2021 solidified the project’s rags-to-riches status. Several early investors made millions of dollars in profits and, in some cases, even billions.

If you had invested $1000 in Shiba Inu (SHIB) in August 2020 and held on to the tokens throughout the last three-and-a-half years, you would be sitting on $11 million in profits. The rise in the portfolio’s value translates to a growth of 1,119,587% (1.11 million percent).

Also Read: Shiba Inu: You Can Now Become a SHIB Millionaire With Just $10

However, SHIB was in a downtrend after hitting its all-time high of $0.00008616 in November 2021. Many investors and SHIB fans, collectively known as the SHIB Army, wonder if they can still make it big with the popular meme-coin.

Will Shiba Inu (SHIB) hit its all-time high again in 2024?

SHIB has recently turned green across the board, deleting a zero from its price, which it gained in December 2023. SHIB is currently up by 23.5% in the daily charts, 43.4% in the weekly charts, and 48.4% over the previous month. Moreover, the asset’s price has surged by over 11% since late February 2023.

Also Read: Shiba Inu: You Can Make $11 Million With $1000 If SHIB Hits $0.1

Shiba Inu’s (SHIB) latest rally is likely due to Bitcoin (BTC) hitting a new 2-year high. The original crypto has reclaimed the $62k price point, a level last seen in 2021. BTC’s latest surge has rejuvenated investor hopes of SHIB reclaiming its all-time high. However, while BTC is down by only 9% from its all-time high, SHIB is down by 84% from its 2021 peak.

According to Changelly, SHIB might not reach its all-time high of $0.00008616 until at least 2028. The platform predicts SHIB to hit $0.0000729927