Why did SHIB surge 884,400%?
In 2021, the rise of SHIB is a legend in the cryptocurrency world, and it is still talked about by many analysts and investors. Recalling the grand occasion after the Bitcoin halving in 2020, meme coins have emerged and ushered in an explosion, but few have soared like Shiba Inu. People can't help but look forward to whether Shiba Inu Coin will stage a legendary increase again.
The emergence and rise of Shiba Inu Coin
In May 2020, the Bitcoin halving event caused a heated response in the market, but Shiba Inu Coin had not yet set foot in this hot land. It was not until three months later that SHIB officially entered the cryptocurrency market, and its initial price was astonishingly low.
However, as Bitcoin rose strongly at the end of 2020, SHIB's trading activities have always seemed dull. It was not until January 31, 2021 that the fate of Shiba Inu Coin ushered in a turning point. On this day, its trading volume surged to a staggering $5.7 million, and the price began to gradually climb. Since then, SHIB's trading volume has remained high, attracting a large number of investors.
In 2021, Shiba Inu Coin's star shines in the sky
When Bitcoin hit a high of $64,000 for the first time in 2021, SHIB also hit its own all-time high, with the price soaring to $0.00000417. Remarkably, in terms of yield, Shiba Inu Coin has surpassed Bitcoin and become the focus of the market.
As Bitcoin hit an all-time high of $68,789 in November 2021, SHIB also reached its historical peak of $0.00008845 in October of the same year. From January to October 2021, Shiba Inu Coin's increase was a staggering 884,400%, which is jaw-dropping.
Potential impact of Bitcoin halving on SHIB
Now that a new round of Bitcoin halving has begun, this undoubtedly provides the possibility for Shiba Inu Coin to rise again. Many investors have pointed out that history is always strikingly similar, especially in the market performance after Bitcoin halving. For example, after the halving in May 2020, the price of Bitcoin began to rise continuously, eventually reaching a high of $64,863 in April 2021.
If history repeats itself and Bitcoin sees a similar increase after the halving, its price is expected to soar. As for Shiba Inu Coin, according to its team members, SHIB is entering a super cycle.If Shiba Inu Coin can repeat its past glorious growth, then according to the current price, its future price may reach an astonishing $0.199.
At present, most people are still looking forward to the rise of Shiba Inu Coin. This time, whether it can create miracles again, we will wait and see.
To learn more, follow the top, I have been working in the currency circle for several years, and I have in-depth insights into various issues. I am always welcome to communicate and discuss with you. Follow the top, here only gathers a group of like-minded partners, our common goal is to work together to reach the peak of wealth!
