Exploring Shiba Inu Market Cap History and Cryptocurrency Data

The Shiba Inu market cap history is a wild ride. In October 2020, the market cap was around $1 billion, a far cry from the over $40 billion it reached in November 2021.

Shiba Inu's price surge was largely driven by its adoption as a meme cryptocurrency. Its unique "dogecoin killer" status and community-driven efforts helped fuel its rapid growth.

The Shiba Inu market cap peaked at $40.2 billion in November 2021, but it's worth noting that market caps can fluctuate greatly in a short period of time.

Shiba Inu (SHIB) has its roots as a "Dogecoin killer" and is now the world's second-largest meme token by market cap.

Launched at an extremely low price, crypto investors who bought in early made immense profits, driving more traders to add SHIB to their portfolios.

The SHIB token is especially popular in emerging markets due to its low price, making it one of the most affordable among top cryptocurrencies by market cap, ranking 14th as of March 2023.

Its highly engaged community, known as the Shib Army, has favored and tweeted about the Shiba Inu dog, further heightening its popularity among crypto enthusiasts.

On a similar theme: Where to Buy Shiba Inu Crypto

Shiba Inu, or SHIB, is the world's second-largest meme token by market cap. It was initially started as a joke but has since evolved into a serious project.

The SHIB token is a cryptocurrency that has gained a huge fan following and a loyal community called the Shib Army. This community is highly engaged and has been favored by prominent celebrities.

SHIB is one of the most affordable top cryptocurrencies by market cap, making it a popular choice in emerging markets. As of March 2023, it ranks 14 in market cap among digital assets.

Shiba Inu has evolved beyond being a joke-based cryptocurrency, having its own decentralized exchange called ShibaSwap.

Shiba Inu's price has fluctuated over time, and it's interesting to look back at its highest and lowest points. SHIB has a highest price of $0.0000885, which was reached on Oct 28, 2021.

The Shiba Inu community has seen significant price drops, with the lowest price reaching $0.0000000000817 on Aug 27, 2020.

Take a look at this: Shiba Inu Price Prediction Chart

The price difference between the highest and lowest points is substantial, showing the volatility of the cryptocurrency market. SHIB's lowest price was reached 4 years 1 month ago.

It's worth noting that the Shiba Inu price has been on a rollercoaster ride over the years, with significant price swings. SHIB has a highest price of $0.0000885, which was reached on Oct 28, 2021.

Additional reading: Shiba Inu Price Japan

The total supply of Shiba Inu tokens is 1 quadrillion (1,000,000,000,000,000) SHIB.

This massive supply is intended to emphasize the humorous and meme-based nature of the cryptocurrency, making it a unique aspect of the Shiba Inu market.

Intriguing read: Shiba Inu to 1 Dollar

The total supply of Shiba Inu tokens is 1 quadrillion (1,000,000,000,000,000) SHIB.

This large total supply is intended to emphasize the humorous and meme-based nature of the cryptocurrency.

The sheer scale of the total supply is staggering, making it one of the largest in the cryptocurrency space.

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The Shib Storage Wallet is a convenient way to store your Shiba Inu tokens securely. It's a type of digital wallet that allows you to store, send, and receive SHIB tokens.

This wallet is designed to be user-friendly, making it easy to manage your tokens even if you're new to cryptocurrency. It's also highly secure, using advanced encryption to protect your tokens from unauthorized access.

The Shib Storage Wallet allows you to store multiple tokens, including SHIB, in one place. This makes it easy to manage your token portfolio and keep track of your holdings.

One of the key benefits of the Shib Storage Wallet is its ability to store large amounts of tokens securely. This is especially useful for investors who hold a large number of SHIB tokens.

For more insights, see: Shiba Inu Burn Wallet

The Shiba Inu market has experienced significant volatility, with returns ranging from -36.03% to 2,186.58% in a single month. In 2021, the price closed at $0.0000334, a 54,505% increase from its opening price.

One notable month was March 2021, when the price surged 2,186.58% to $0.00, closing at $0.00. The following month, May 2021, saw a 558.10% increase, also closing at $0.00.

Here's a summary of the monthly returns for Shiba Inu in 2021:

The monthly returns for 2021 demonstrate the significant price fluctuations experienced by Shiba Inu.

Returns can be a bit of a rollercoaster for Shiba Inu investors, with some months being absolute winners and others being, well, not so much.

The highest monthly return for Shiba Inu was a staggering 2,186.58% in April 2021, when the price closed at $0.00 after opening at $0.00.

But not all months are created equal, and some have been downright brutal for investors. The worst monthly return was a -45.10% in May 2022, when the price closed at $0.00 after opening at $0.00.

Looking at the data, it's clear that Shiba Inu's returns have been all over the place. In 2021, the price closed at $0.0000334, which is 54,505% up from the open.

Here's a breakdown of the monthly returns for Shiba Inu in 2021 and 2022:

It's worth noting that the open and close prices are often $0.00, but the returns are still quite significant.

The 24-hour trading volume is a crucial metric to understand the liquidity and activity of a cryptocurrency. SHIB has a trading volume of $241,306,112 in the last 24 hours.

This high trading volume indicates that SHIB is a highly liquid market, with many traders buying and selling the cryptocurrency.

Market Capitalization is another key metric that affects the trading volume of a cryptocurrency. Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation.

It's calculated by multiplying the Circulating Supply by the Current Price, which gives a total value of the cryptocurrency.

Shiba Inu was created by an anonymous creator under the pseudonym Ryoshi in August 2020.

The creator, Ryoshi, chose to remain anonymous and insisted that they had kept no SHIB holdings for themselves, aiming for a decentralized and community-owned cryptocurrency.

Shiba Inu soon caught the attention of crypto influencers, including Tesla CEO Elon Musk and Ethereum's creator, Vitalik Buterin.

Ryoshi's intention for Shiba Inu was to see if a perpetual decentralized organization could work with no central leadership.

In mid-2021, Ryoshi kept to his promise and stepped away, leaving the token entirely in the community's hands, which was a bold experiment.

The Shiba Inu community successfully managed the token, and in October 2021, SHIB briefly flipped Dogecoin to become the most-valued meme coin by market capitalization.

SHIB's price surge led to increased adoption across token holders, with over 20% of the combined market shares of all ERC-20 tokens held by Ethereum whales being represented by SHIB.

Retailers started adopting SHIB as a means of payment, with American electronics retailer Newegg adding SHIB at the start of December 2021, partnering with crypto payments platform BitPay.

The Shiba Inu community's efforts to build a utility for the token and create an ecosystem around it were a major reason for the surging price of SHIB.

ShibaSwap, the coin's designated DEX, started as a fork of Sushiswap and has its "own little twists and elements", according to Ryoshi.

SHI, an algorithmic stablecoin pegged to one cent, is planned to be developed by the Shiba Inu team, with the goal of making it a global stable currency "that plebs across all countries are able to use as both a store of value and method of payment."

Shiba Inu's journey began as a meme currency, but it has since transformed into a decentralized ecosystem. The initial launch allocated 50% of the supply into Vitalik Buterin's ethereum wallet.

Vitalik Buterin's wallet received a massive amount of SHIB, which eventually skyrocketed in price from $0.000000000056 to $0.000084.

This 150,000 times increase in price made SHIB one of the most successful meme currencies.

Take a look at this: Shiba Inu Dogecoin

The Shiba Inu token was created by an anonymous creator, known by the pseudonym Ryoshi, in August 2020.

This creator chose to remain anonymous and insisted on keeping no SHIB holdings for themselves, with the goal of making the cryptocurrency a wholly decentralized and community-owned project.

The Shiba Inu token soon gained attention from notable figures in the crypto space, including Elon Musk and Vitalik Buterin.