The two year old meme coin, Shiba Inu, is no doubt the favourite one of the popular personalities like Elon Musk and Vitalik Buterin. The meme coin world wide has spread its “cute charm” and attracted the crypto investors towards it. But, after touching it’s all time high, the memecoin has almost dropped its charm and started trading below from the investor’s expectations.
“Shiba Inu” from “Tip-to-Toe”
According to Coinmarketcap, Shiba Inu is currently trading at a price of $0.000008 USD with a 24-hour trading volume of $59.51 Million USD. Shiba Inu is down 0.36% in the last 24 hours, with a live market cap of $4.54 Billion USD.
The above graphic representation shows the all time price performance of Shiba Inu. In which it can be seen that from starting from zero in August 2020, the meme coin has saw major ups and downs. The token has noted it’s all time low on Sep. 1, 2020 when its price was at $0.000000000082.
It started trading quite above from the baseline of zero in April 2021. And following the upward trend in the same year, Shiba Inu jumped to it’s all-time high on Oct. 28, 2021 when it traded at a price of $0.00008845. And as compared to its current price, it is almost 90.64% down from its all time high.
Later, Shiba Inu started declining in its price and slowly-slowly lost the faith of major crypto investors. Even the back support from famous personalities does not seem to become the saviour of this memecoin.
Shiba Inu ROI Factor
The approximate Return On Investment (ROI) if purchased at the time of launch (or earliest known price) of Shiba inu is almost 513111.45%. It is clearly far better than its rival, Dogecoin’s ROI that is just 13732.44%.
Moreover, the ROI that the “Dogecoin Killer” gave is also higher than the most traded cryptocurrency, Bitcoin, which has an ROI of almost 12345.43%.
As of now, many of the crypto experts are engaging with their research and are optimistic about Shiba Inu to perform better in 2023. So, be ready to see the cute charm of this meme coin, but better to do the self research.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2022/12/25/will-the-cute-charm-of-shiba-inu-lasts-long-in-2023/