According to a cryptocurrency analysis company WatchOnChain, a Shiba Inu diamond trader (SHIB) has become active after 3.5 years of dormancy. The trader spent 2 ETH, worth approximately $2,625, to purchase 48.09 billion SHIB tokens on February 1, 2021, when the token traded for approximately $0.00000001. The trader sold his SHIB shares for 278.7 ETH, worth approximately $1.1 million, a gain of 41,804%, or 419X.
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SHIB has had an incredible run in 2020-2021. From its launch in August 2020 to an all-time high of $0.00008616 in October 2021, SHIB's price increased by many million percent. Investors who bought SHIB in late 2020 or early 2021 made millions of dollars in profits.
Shiba Inu (SHIB) set to hit new all-time high soon?
SHIB is currently down over 71% from its 2021 peak. However, the popular dog-themed cryptocurrency could soon regain its all-time high.
According to CoinCodex, Shiba Inu (SHIB) could rise to $0.00008371 on June 25, 2024. Reaching $0.00008371 from current levels would translate to an increase of approximately 238.3%. Furthermore, $0.00008371 is very close to SHIB's all-time high. If SHIB reaches $0.00008371, the price could surpass the 2021 peak.
Changelly also paints a bullish picture for SHIB in June. The platform expects SHIB to reach $0.00008373 on June 24, 2024, a similar forecast to CoinCodex.
Also read: Shiba Inu: How High Can SHIB Go If Bitcoin Reaches $700,000
Telegaonon the other hand, is more optimistic about Shiba Inu (SHIB). The platform predicts that SHIB will reach a maximum price of $0.0000601 by 2024. Reaching $0.0000601 from current levels would entail growth of approximately 142.9%.
Nevertheless, all three platforms expect SHIB to rise this year. Whether the assets will reach a new all-time high remains to be seen. Given a positive market environment, SHIB is one of the most popular cryptocurrencies and could see a sudden price spike.