$1,000 invested in SHIB at start of 2024 returned

Shiba Inu (SHIB) experienced an exponential surge in the previous month, resulting in gains of over 50% and breaking through the $0.00001 psychological resistance level.

With this recent surge in SHIB price, investor interest has reignited, prompting traders to contemplate the investment potential of this digital token. 

As a result, Finbold calculated the current value of $1,000 invested in SHIB at the beginning of 2024.
On February 28, Shiba Inu revealed that it is collaborating with Zama, an open-source cryptography company, to introduce a new privacy-focused network atop the Shibarium blockchain.
This network will utilize Fully Homomorphic Encryption (FHE) to enhance on-chain privacy for SHIB token holders. The initiative aims to safeguard personal and transactional data, utilizing the Shiba Inu ecosystem token treat (TREAT) to power the new privacy layer. 

Shytoshi Kusama, the pseudonymous founder of Shiba Inu, clarified that this initiative is separate from Shibarium, which was launched last August and focused on financial services and gaming.

Additional updates from the development team that enhance integration, security, privacy, and other features appealing to traders can be positive catalysts for increasing SHIB adoption.

SHIB price chart

Since the beginning of 2024, Shiba Inu’s price has risen by 34.25%, climbing from $0.00001034 to $0.00001401 at the time of writing.

For much of 2024, SHIB traded below the $0.00001 mark, dropping as low as $0.0000088 by the end of January.

However, the recent surge in interest has driven its price up by 46.63% in the last 7 days alone, likely due to the revived excitement surrounding meme coins.
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