Shiba Inu (SHIB) is a meme-inspired cryptocurrency that has seen massive growth and popularity recently. As a relatively new cryptocurrency, SHIB’s price history is still developing, but it has already reached some notable highs.
SHIB’s All-Time High Price
SHIB hit its current all-time high price on October 28, 2021, when it reached $0.00008845 per token.
This represented a massive gain from SHIB’s launch price in August 2020, which was just $0.0000000001 per token. In a little over a year, SHIB’s price grew by over 88,000,000% to reach its record high.
Key Events Leading to All-Time High
There were a few key events that contributed to SHIB’s meteoric rise to its all-time high price:
- Listing on major exchanges like Binance, Coinbase, OKEx – This increased SHIB’s accessibility and trading volume.
- Large purchases by Ethereum co-founder Vitalik Buterin – Buterin donated and burned a large portion of SHIB tokens, reducing the circulating supply and sparking buying interest.
- Growing social media and community hype – High-profile supporters like Elon Musk brought attention to SHIB, further boosting its popularity.
SHIB Price Immediately After All-Time High
In the days immediately following its peak of $0.00008845, SHIB’s price pulled back sharply as investors took profits from the rally. Here’s what happened:
- October 29, 2021 – SHIB fell 53% to $0.00004101
- October 30, 2021 – SHIB slipped another 34% to $0.00002703
- November 1, 2021 – SHIB bottomed out around $0.000019, dropping 79% from its all-time high
This massive drawdown showed the volatility and risk associated with SHIB’s parabolic rise. With such a sharp rally, a equally sharp correction was to be expected as the hype cooled off.
SHIB’s Price 1 Year After All-Time High
Looking at SHIB’s price today, around 1 year after hitting its all-time high, can give some perspective on its performance since then.
As of October 16, 2022, SHIB’s price is $0.000009016, down nearly 90% from its peak. However, this still represents a large gain of over 900% from its original launch price.
Here are some key highlights of SHIB’s price action in the year after its record high:
- November 2021 – SHIB surged back up 490% to retest its all-time high but failed to break out above it.
- December 2021 – Price crashed 70% as crypto hype faded and broader market dropped.
- May 2022 – SHIB spiked again, gaining 340% but remaining below previous highs.
- June 2022 – Price plunged with the rest of the crypto market, erasing most gains.
- October 2022 – SHIB is struggling to hold above $0.00001 amid crypto winter conditions.
Although still up hugely from its launch price, SHIB has experienced significant volatility and drawdowns in the year since making its historic run-up. It has yet to reclaim or exceed its previous all-time high.
In summary, SHIB reached an all-time high of $0.00008845 on October 28, 2021, driven by hype and speculative mania. The price plunged soon after but still managed to hold substantial gains year-over-year. However, SHIB has struggled to maintain its momentum since hitting those record prices, caught up in the broader crypto downturn. Its future path will depend heavily on whether the current crypto bear market persists or gives way to the next bull run.