Shiba Inu’s standout performance early in 2024 has resulted in substantial gains for those who invested at the beginning of the year. This cryptocurrency has quickly risen to become one of the top performers among the leading 20 digital currencies since the year kicked off. It even managed to secure a spot in the top 10 earlier in the month, narrowly missing the chance to surpass Dogecoin in market ranking.
Investors who put their money into Shiba Inu as the year started might be curious about the current value of their investment. Diving into the data offers some intriguing insights.
Shiba Inu’s 2024 Return on a $1,000 Investment
Shiba Inu started the year trading at a modest price of $0.00001. This means that an initial investment of $1,000 on the first day of 2024 would have netted you 100,000,000 Shiba Inu tokens.
As of this writing, Shiba Inu’s price stands at $0.00002932, which would place the value of your holdings at $2,932. Selling now would result in a profit of $1,932 in just a few months.
The potential profit could have been even more substantial had you sold at Shiba Inu’s peak price of $0.000045 in early March. At this rate, your investment would have ballooned to $4,500, translating to a 350% increase.
However, achieving such a profit margin would have tested your patience, especially during early February when Shiba Inu’s price dipped to $0.0000089. This dip would have temporarily reduced your investment’s worth to $890, marking a slight loss.
On another note, when comparing the performance of Shiba Inu with Bitcoin over the same period, the meme coin’s success becomes evident. Bitcoin’s price was around $42,280 at the year’s start and has since increased by nearly 70%, reaching around $70,600.
Investing $1,000 in Bitcoin at the beginning of the year would yield approximately 0.02365 BTC, which, at the current value, would result in a total of $1,671.86 if sold.
This comparison isn’t to pit Bitcoin directly against Shiba Inu, as the latter is inherently more volatile and sensitive to market changes. Nonetheless, both cryptocurrencies could play strategic roles in diversifying an investment portfolio for optimized returns over time.
