To hit the $1 mark, Shiba Inu will need history to repeat itself.

More than doubling in 2023, it looks like the cryptocurrency asset class has officially emerged from the brutal crypto winter. With renewed optimism and the hopes of a bull market looming, it's time to check on one of the top performers from the crypto market's last bull run: Shiba Inu (SHIB -0.90%).

When seemingly every cryptocurrency was making monumental gains in 2021, Shiba Inu came out of nowhere and took the crown. Growing by more than 28,000,000%, the meme coin is now the 19th-most valuable cryptocurrency in the world. The next landmark in Shiba Inu's sights is the coveted $1 mark. But can it do it?

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