Shiba Inu has been one of the top-performing assets over the past day. It has appreciated by more than 10%, bringing its market cap to $5.82 billion. Shiba Inu’s latest pump comes at a time when the broader crypto market is consolidating. As pointed out in an article recently, the asset’s valuation is up by more than 66% from its May lows.
SHIB has successfully managed to renew its uptrend in the mid-term frame. However, it continues to be significantly undervalued when compared to its peak. The asset attained its ATH of $0.00008854 in October 2021.
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How much will you make if SHIB reclaims its peak?
Let’s say, you invest $100 on Shiba Inu. From the current price of $0.00000965, SHIB will have to appreciate by 817.51% to attain its all-time high again. In such a scenario, the $100 investment would be worth $917.51.
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Shiba Inu accumulation has been going on for quite some time. Data from IntoTheBlock pointed out that over the past 30 days, addresses holding 100 billion to 1 trillion SHIB have increased by 9.85%. Parallelly, addresses holding up to 1 billion SHIB have also increased by nearly 3%.
Over the short term, traders continue to remain optimistic. SHIB’s long-to-short ratio was hovering at 1.21, with bullish derivatives trades making up more than 54% of the total trades. Furthermore, the funding rate was also positive, and flashed a reading of 0.0193 at press time, reinforcing the bullish narrative.
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