Exploring the Remarkable Performance of Shiba Inu From All-Time Low to All-Time High

Shiba Inu Trading Launches on Backpack Exchange

Shiba Inu rapidly gained popularity shortly after its inception three years ago. The asset saw numerous independent rallies before reaching its peak in 2021. Despite the substantial decline it experienced when market conditions turned bearish, SHIB, like many other mid-cap assets, was able to navigate through the difficult period. 

The Two Types of Investors

Investors can be broadly classified into two main categories. The first group prefers to wait for a price dip and then buy at a lower level, while the second group tends to enter the market impulsively out of fear of missing out (FOMO) when prices are rising. By being more patient and choosing the appropriate timing to enter, the former category of investors often holds an advantage over the latter in terms of making apt investment decisions.

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Regarding Shiba Inu, approximately 4.37% of the addresses (corresponding to 56,140 addresses) purchased the token when it was at its all-time high price. On the other hand, around 3.44% of the addresses (equivalent to 44,260 addresses) acquired the token during its all-time low price period.

Shiba Inu’s Remarkable Pump From Zero to Hero

Shiba Inu reached its all-time high price of $0.00008845 on October 28, 2021. Since then, the asset has experienced a sharp decline of nearly 91%, causing investors who bought SHIB during its peak to face significant losses.

SHIB’s Price Trend

Conversely, Shiba Inu has shown remarkable appreciation from its all-time low of $0.00000000008165 recorded on September 1, 2020. SHIB’s value has already surged to the point where five zeros have been eliminated from its price.

According to data from CoinMarketCap, the asset has increased by an astonishing 10,085,266% from its bottom, resulting in substantial gains for investors who invested during its all-time low period.

At the time of reporting, SHIB, which has a market capitalization of $4.85 billion, was trading at $0.000008232.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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