The cryptocurrency market has faced a massive price crash today. The global crypto market cap has fallen 12.5% in the last 24 hours to $2.45 trillion. Bitcoin (BTC) is trading at the $75,000 level for the first time since November 2024. Shiba Inu (SHIB) also follows the market downtrend. The popular dog-themed crypto is on the verge of gaining an additional zero after its decimal point.
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Just $65 In Shiba Inu Is Still Worth More Than $1 Million Today
Despite the massive crash today, SHIB has maintained incredible gains since its launch. If you had purchased just $65 worth of SHIB in August 2020, the value of the investment would have been $1.05 million today. Your money would have grown by 1,617,878.95% (1.61 million percent).
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Shiba Inu (SHIB) hit an all-time high of $0.00008616 in October 2021. If you had sold the $65 worth of SHIB when the asset was at its peak, you would have made nearly $6.7 million. In this scenario, your money would have grown by 10,303,317.81% (10.30 million percent).
Should You Buy The Dip?
Buying the dip is one of the most popular practices among investors. There is a high probability that Shiba Inu (SHIB) will recover its losses over the coming months. The latest market dip is most likely due to the global trade war. The US has imposed heavy tariffs on several trade partners. Market participants have lost a lot of confidence. If macroeconomic conditions improve, SHIB and other assets may see a big recovery phase.
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Shiba Inu (SHIB) is currently down by nearly 88% from its all-time high. The asset has struggled to gain momentum over the last few years. There is a chance that SHIB will eventually surpass its previous peak. Buying the asset right now at cheap rates could bear stellar fruits.
