Famous crypto investor Patrick Schmitt recounts how Shiba Inu ignited a broader market frenzy in April 2021, following a period of stagnation in the crypto space.
In an X post today, Schmitt reminded crypto investors of how Shiba Inu kicked off the 2021 bull rally with its astronomical gains. Schmitt noted that as of April 2021, the market was largely dull and felt like the season was over.
This implies that major cryptocurrencies like Bitcoin exhibited little to no price movement at the time, fueling investor doubts about the market’s future.
Shiba Inu Revives the Crypto Market
Schmitt emphasized how SHIB’s price began surging in April 2021, sparking renewed excitement and momentum across the crypto landscape. At the beginning of April, SHIB was trading at just $0.000000060—seven zeros after the decimal.
In less than three weeks, the meme-based token eliminated two zeros from its price and soared to $0.00000362 on April 19, 2021. This marks an increase of 5,933% from its April 1, 2021 opening price.
Shiba Inu’s extraordinary gains in such a short period reignited investors’ confidence in crypto. It led to large retail buying, with major assets setting new all-time highs in subsequent months. For instance, while SHIB reached an ATH of $0.00008845 in October 2021, ETH clinched a peak price of $4,891 the following month.
Current State of the Crypto Market
Meanwhile, the current market state resembles the 2021 market cycle. Like April 2021, crypto performance has been relatively slow lately. Most assets, including SHIB and BTC, have failed to make any major upside move.
In particular, Shiba Inu has remained stuck around the $0.000012 price mark over the past two weeks. On the other hand, Bitcoin has been hovering between $84,000 and $88,000 within this period.
For many investors, this performance has fallen short of expectations, especially as U.S. President Donald Trump unveils several pro-crypto policies.
Could History Repeat Itself?
Schmitt noted that while it remains unclear which crypto asset will trigger another rally, he emphasized that history might repeat itself even though the metrics and conditions have changed since 2021.
This suggests that Schmitt expects Shiba Inu to record another astronomical gain, leading to the next leg of the bull run, with prices of major assets soaring to greater heights, as observed in April 2021.
I remember April 2021 like it was yesterday, nothing were moving and it felt like over.
Than $SHIB started to pump amd kicked it all of.
I don’t know which one will kick it all of, but I am certain that history might repeat, even with way different metrics and conditions. pic.twitter.com/06FWa5YYpR
— mrpatrickschmitt (@mr_pschmitt) April 20, 2025
In the meantime, SHIB is trading at $0.00001274, representing a 24-hour increase of 2.7%. The token’s price has soared over 4.3% over the past seven days, with a slight growth of 0.9% in the past 30 days.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
