2023 was a great year for the cryptocurrency industry. The total value of all tokens in existence doubled from $850 billion to over $1.7 trillion.

But those gains weren't equally distributed. Industry leader Bitcoin (CRYPTO: BTC) soared more than 150% for the year, whereas meme token Shiba Inu (CRYPTO: SHIB) logged a return of just 30%. That's a far cry from Shiba Inu's 2021 gain of 43,800,000%, which could have turned a perfectly timed $3 investment into more than $1 million.

In fact, the meme token remains 88% below its all-time high, leaving many investors nursing steep losses. But with sentiment toward the crypto industry improving, could 2024 be the year Shiba Inu logs another historic gain and potentially soars from $0.00001 all the way to $1? The answer might leave your head spinning.

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Source Fool.com