Following Shiba Inu’s latest rally above the $0.000015 mark, there is rising optimism that SHIB could reclaim its previous ATH and bring in substantial gains for early investors.
The highly anticipated “Crypto Week,” which spanned July 14 – 18, ended on a positive note for the broader market. The week, which began with the U.S. House passing three important crypto bills, ended with Donald Trump signing the GENIUS Stablecoin Act into law.
Shiba Inu Climbs Above $0.000015
Interestingly, these developments have driven up the prices of major cryptocurrencies, including Shiba Inu. Prior to the “Crypto Week,” the price of Shiba Inu hovered around the $0.000013 territory. However, Shiba Inu surged to a two-month high of $0.00001575 on July 18–the same day Trump signed the GENIUS Act.
Amid this rally, Shiba Inu took a step forward in the global crypto ranking, becoming the 18th-largest token in the market. It still maintains this position as of the time of publication. Currently trading at $0.00001509, Shiba Inu has a valuation of $8.89 billion.
This renewed rally has reignited investors’ confidence in Shiba Inu, with some enthusiasts projecting that the asset might eventually reclaim its previous all-time high (ATH).
Recall that Shiba Inu reached a peak price of $0.00008845 on October 28, 2021. It achieved the feat following a remarkable run that removed six leading zeros from its price. The canine-themed token has dropped 82.93% from its previous all-time high.
Worth of 700 Million SHIB If Shiba Inu Reclaims ATH
However, there is growing confidence that Shiba Inu will reclaim its previous ATH soon. In light of this, we explored how much 700 million SHIB tokens acquired at the current price would be worth if Shiba Inu were to reclaim $0.00008845 – its prior peak.
At press time, Shiba Inu was trading at $0.00001509, representing a double-digit increase of 12.67% in the past seven days. Its price has also grown 29.42% over the past month. Based on Shiba Inu’s current price of $0.00001509, 700 million SHIB tokens cost $10,563.
The value of these 700 million tokens will spike to $61,915, assuming Shiba Inu reclaims its ATH and hits a unit price of $0.00008845. This represents an ROI of more than $51,000.
Potential Timeline for SHIB to Revisit ATH
Although optimism is rising that Shiba Inu could reclaim its previous all-time high, the timing remains uncertain. However, there is a growing consensus that Shiba Inu will set a new all-time high target of at least $0.0001, surpassing the previous $0.00008845 by 13.05%. Proponents of this forecast believe that Shiba Inu will surpass $0.00008845 and eventually climb above $0.0001 this year.
Experts with these projections include Eunice Wong, a prominent market chartist who set Shiba Inu’s 2025 maximum target at $0.000125. Additionally, Forbes suggested last year that Shiba Inu will also surge beyond $0.00008845 by 2025, projecting a price range of $0.0001 – $0.0003 for SHIB.
However, Changelly, a crypto trading platform, sees SHIB reclaiming its previous ATH four years later, precisely in March 2029. Changelly’s forecast emphasizes the need for caution as Shiba Inu is not guaranteed to reclaim its ATH anytime soon.
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.
