Shiba Inu Is Already Up 220% in 2024, Crushing Bitcoin. Is It Too Late to Buy?
If you'd bought Shiba Inu (CRYPTO: SHIB) tokens at the beginning of 2021 and sold them at the end of the same year, you would have earned a mind-boggling return of 45,278,000%. That would have been enough to turn a $3 investment into more than $1 million.
The meme token then wound up plunging more than 90% from its all-time high during the collapse of the cryptocurrency industry in 2022. It failed to mount a comeback in 2023 despite improving sentiment across the industry and a strong rebound in leading cryptocurrency Bitcoin (CRYPTO: BTC).
But Shiba Inu is off to a red-hot start to 2024. It's up more than 220% so far, which is more than triple the year-to-date gain of Bitcoin. So should investors chase the rally? Those hoping for a repeat of 2021 might be disappointed, because it would be mathematically impossible (and I'll explain why).
Source Fool.com
