NFT

$1K Invested in SHIB on Jan-1 Worth Now $500 Million


SHIB has charted a fresh ATH record at over $0.000039 earlier on October 24th after rumors that the meme-coin could be listed on Robinhood. Additionally, the token found its way on another popular app – Public – and enjoys enhanced adoption from retail investors.

  • CryptoPotato has reported the latest developments in regards to the popular meme-coin, starting with the massive whale purchase at the end of September, which actually preceded the first major leg up.
  • Later on, the team behind the project entered the NFT mania by announcing plans to release a digital collection of 10,000 “lovable creatures.”
  • The demand for SHIB only grew as the wallet addresses surged by nearly 10% in two weeks.
  • Google Trends data also showed that the worldwide interest went to a multi-month high in early October.
Shiba Inu Google Searches 1-Year Back. Source: Google Trends
Shiba Inu Google Searches 1-Year Back. Source: Google Trends

 

  • The token also saw adoption from large organizations that enabled its customers to interact with it. One of the largest Brazilian exchanges – Novadax – listed SHIB just a few days ago.
  • The popular trading app – Public – followed suit shortly after. Moreover, rumors emerged that Robinhood could be next in line, which also propelled significant price pumps.
  • Consequently, SHIB has surged by 35% in a day and 50% in a week and marked a new all-time high earlier at just over $0.000039. This means that the asset is up by more than 450% in October so far.
  • Its market capitalization now exceeds $15 billion, and SHIB is well within the top 15 coins by this market. In terms of traded volume, SHIB/USDT is the most traded pair on Binance over the past 24 hours, surpassing $2 billion in volume.
  • Further CoinGecko data shows that SHIB traded at $0.000000000077 on January 1st, 2021. It means that the meme coin is up by a whopping 50,649,250% YTD. As such, a hypothetical investment of $1,000 made on January 1st would be worth over $500 million today.
SHIB/USD. Source: TradingView
SHIB/USD. Source: TradingView
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