The total value of the cryptocurrency market has gained more than 1200% since its lowest level in March 2020, reaching $1.7 trillion. As you can imagine, the two giants of crypto, Bitcoin and Ethereum, played a big role in this nominal increase in market capitalization. However, the Shiba Inu (SHIB), which is responsible for attracting new investors for historical gains, should not be overlooked. The meme token is becoming less volatile day by day and is supported by projects that will be released this year.
Shiba Inu’s historic returns in 2021 may never be repeated
On January 1, 2021, investors had the opportunity to purchase the SHIB for $0.000000000073. Less than 10 months later, the same coin would hit an intraday high of $0.00008841 on October 27. With that many zeros after the decimal point it can be hard to do the math, but in less than 10 months, the Shiba Inu’s value has soared by an astonishing 121,000,000%. Even after quite a pullback from the ATH level, SHIB price closed 2021 with gains of around 46,000,000%. Too many analysts think that a one-year gain of this magnitude will never be seen again.
Shiba Inu’s historic achievements are primarily the result of unique market dynamics and significantly improved visibility. In terms of the former, it is sometimes difficult for skeptics to turn to cryptocurrencies other than Bitcoin. Some crypto exchanges do not allow short selling, and there are no derivatives exchanges (for example, futures contracts or options) to take a position against lesser known cryptocurrencies like SHIB. This created a natural buying bias for the Shiba Inu in 2021.
Shiba Inu 2022 roadmap
Shiba Inu joined the list of multiple centralized cryptocurrency exchanges alongside the launch of decentralized exchange ShibaSwap in July. ShibaSwap provided sufficient liquidity and introduced staking, which allows SHIB investors to earn passive income. Since SHIB’s October, the median holding time of tokens on top crypto exchange Coinbase Global has increased from just six days to 111 days. Shiba Inu is preparing for projects such as ShibaSwap 2.0, Shibarium and Shib Metaverse this year.
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