Can Shiba Inu Repeat Its 2021 Rally in 2024?
The Shiba Inu (SHIB) ecosystem stunned the globe with its upward trajectory since its inception. The meme coin changed the lives of many following its rally in 2021.
This year, SHIB surged to its all-time high of $0.00008845. The asset currently remains 85% below this peak. At press time, SHIB was trading at $0.00001316, with a 1.30% drop over the last 24 hours.
Amidst this volatility, Lucie, the marketing expert at SHIB, hinted at the possibility of the meme coin repeating its August 2021 rally, which was considered a turning point for the asset.
Analyzing SHIBâs Past and Future Performance
Looking Back At August 2021
The 2021 Rally
The meme coin reportedly spiked significantly between January and May 2021. Following its peak in May, the asset dipped by over 35% over two months.
However, the asset ended its consecutive monthly losses in August 2021 after surging by 9.77%. Shiba Inu had a massive increase in October 2021, equal to an astonishing 827% leap, after recording a measly 4.62% spike in September of the same year. SHIB soon reached its all-time high.
Current Scenario
The current scenario is somewhat similar. Shiba Inu has been declining since March when it peaked at $0.000045 annually. Losses have occurred in June and July recently, resembling the events of 2021. As a result, Lucie highlighted SHIBâs historical performance and reignited hope in the SHIB market.
According to data from Changelly, Shiba Inu is slated to reach a high of $0.0000294 this month.
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