Shiba Inu (SHIB) has gained significant attention in the cryptocurrency market thanks to its meme-inspired branding and strong community support. Its meteoric rise in value has led many investors to wonder about the potential returns they could earn if they had invested earlier.
The SHIB Coin started a significant bull rally during the first quarter of 2024, delivering massive profits for investors and traders. This surge was triggered by the approval of the Bitcoin ETF by the U.S SEC in mid-January, which fueled the price rally.
Bitcoin has experienced a strong surge, reaching a new all-time high of $73,737 in mid-March, with Shiba Inu mirroring this upward trend. Moreover, investors who entered the crypto market before January 2024 saw impressive profits from both Bitcoin and Shiba Inu.
If You Put $1000 in SHIB on Jan 1, How Much Money Could You Have Earned Today?
On January 1, 2024, Shiba Inu was trading at $0.00001030 with four ‘zeroes.’ This means that a $1,000 investment could have resulted in accumulating approximately 97 million SHIB tokens, showcasing significant potential gains for investors.
At the time of writing, the price of the Shiba Inu Coin has surged to approximately $0.00002873, marking an impressive 165% from the start of the year until April 01, 2024. This substantial growth highlights the potential profitability of investing in SHIB within a short period.
Note: An initial investment of $1,000 made on January 1, 2024, has grown to $2,789 as of April 1, 2024. This represents a significant return on investment (ROI) of around 165% in a span of just 90 days.
Our Final Opinion: The upcoming Bitcoin halving event propels Shiba Inu’s price higher. Set for April 20, 2024, this Halving event will cut Bitcoin’s supply by half, increasing the scarcity of the top cryptocurrency. When Bitcoin becomes scarce and demand increases, the price of BTC will rise accordingly. As Bitcoin’s price climbs, SHIB is likely to follow suit and start a rally in the charts.
Also Read: Top 3 Meme Coins Set to Multiply Your $1,000 Into $10,000 by April 2024
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.