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Few things have been stable on the cryptocurrency market over the past 12 months, except for the rise of Bitcoin. If you compare the prices then and now, only the main cryptocurrency has shown any significant growth over this period.
Last March, the price of BTC broke the all-time high of 2021 at $69,000, but what else? Few people will remember, but it has been a year since Shiba Inu (SHIB), a popular meme-inspired cryptocurrency, saw staggering growth, literally rising 388% in two weeks, from $0.0000095 to $0.000046.
Tomiwabold OlajideNo, it was not an all-time high for the meme cryptocurrency, but it was the brightest SHIB price action in years. At the same time, the price of the Shiba Inu token rose 246% over the same period against Bitcoin, which was updating its all-time high.
A year has passed since then, however, and the picture for the meme cryptocurrency is now very different. Since the pump in March last year, the price of SHIB has lost 77.84% and is now valued with too many zeroes after the decimal point.
However, judging by the price's performance, this is far from the end, and it seems that SHIB will soon renew its historic low against Bitcoin.
Godfrey BenjaminThe Shiba Inu token is not alone in its fate, and many alternative cryptocurrencies are showing similar dynamics against the main digital asset. Perhaps SHIB has the most contrasting record, considering how triumphant it was last March.
It is unclear how late it is to move from SHIB to BTC, and the negative record to Bitcoin does not mean that the price of Shiba Inu in dollars will fall as well. But it is unlikely that some outperformance of the meme coin should be expected anytime soon, as it was a year ago.
Dan Burgin
Vladislav Sopov