Shiba Inu (SHIB) Price Could Reach $4.66 If It Replicates Its 2021 Performance, The Crypto Basic Claims
- 王林Original
- 2024-07-27 21:05:09374browse
It is no longer news that Shiba Inu was among the top-performing cryptocurrencies in the 2021 bull run.
Shiba Inu (SHIB) enjoyed an incredible run in the first ten months of 2021, with its price skyrocketing by 27,000,000%, as reported by Arabian Business. This astronomical surge left many investors wondering what SHIB’s price could reach if it were to experience a similar rally again.
To put SHIB’s 2021 rally into perspective, the token began the year trading at a price of around 0.0000002. However, by October 28, 2021, SHIB had surged to an all-time high of $0.00008845. This incredible price increase saw early investors in SHIB multiply their investments by millions of times over.
Now, if SHIB were to experience a similar rally again, starting from its current price of $0.00001726, we can calculate its potential price using the following formula:
SHIB’s Price * (1 + (27,000,000 / 100)) = SHIB’s Potential Price
Plugging in the values, we get:
$0.00001726 * (1 + (27,000,000 / 100)) = $4.66
This calculation shows that SHIB’s price could theoretically reach $4.66 if it were to experience a 27,000,000% rally from its current price. At this price, investors who currently hold 1 million SHIB tokens, which are collectively valued at $17.26, would see their investment multiply to a staggering $4.66 million.
However, it’s important to note that such a massive rally is highly unlikely, especially considering that SHIB’s price has already declined significantly from its all-time high. Furthermore, a price of $4.66 per SHIB token would result in a market capitalization of over 2.74 quadrillion dollars, assuming SHIB’s circulating supply remains at 589.27 trillion tokens. This astronomical market cap is simply not sustainable given the available global financial resources.
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