Shiba Inu (SHIB) has been trading sideways for a while. But last week was very good for the meme coin. In the past seven days, SHIB has surged by nearly 9%.
The asset has traded from a low of $0.00001301 to a high of nearly $0.0000150. This is a fairly low increase considering SHIB’s previous gains, but the community was hoping for a bigger increase.
Shiba Inu's recent performance
In January 2021, the value of the Shiba Inu increased significantly by 45,131%. A CoinGecko report last May highlighted the context surrounding this rise. Reports show that a $12 investment in SHIB generated $1 million in gains in 2021, a gain of 8,333,233%.
At press time, SHIB is trading at $0.00001441, down 2.31% over the past 24 hours. The meme coin’s daily trading volume has also plummeted by 15% to $161,932,281.
Shiba Inu's 1000% rebound
Potential returns for SHIB investors
Although it seems impossible to repeat SHIB's previous gains, investors are hoping it can rise 1,000%. But will that be enough to bring SHIB investors an adequate return?
Considering the current price level of SHIB, investing $1,000 in Shiba Inu will earn you 69,084,628.67 tokens. It is important to note that if the value of Shiba Inu increases by 1,000%, its price will be $0.0001518. With this 1,000% gain, a $1,000 investment will increase to $10,534.
Current investor sentiment
Most SHIB investors are losing money at the current price of the asset. About 48% of holders are making a profit at the current price. A potential 1000% gain could change the fate of SHIB investors. This would further enable more holders to profit, contrary to the current situation.
