Foreign media estimates that if the Chihuahua coin SHIB rises back to its historical high from 2021, investors would need to hold approximately 11.61 billion tokens in order for their book value to reach $1 million. Based on the current price mentioned in the article, this portion of the holdings is currently valued at around $59,600.
Reverse the position size from high to low based on the previous values.
Watcher.Guru mentioned in the article that the historical high of SHIB was $0.00008616, which occurred in October 2021. Calculated at this price, to reach a market value of $1 million in holdings, one would need to possess approximately 11.61 billion, which is about 11.61 billion SHIB.
The text also provides a set of static calculations: based on the current price, this portion of tokens is valued at approximately $59,638. If they were to return to their previous high in the future, that would correspond to a gain of about 1576%. Such calculations are based on the assumption of a fixed price and do not indicate that such a trend has already emerged in the market.
Has not been able to return to high levels in the past two years
The article argues that the real issue is not with the formula, but rather whether SHIB still has the capacity to return to its previous high levels. SHIB has performed weakly over the past few years; although it did rise to around $0.000032 in December 2024, its trend has since declined again.
It is also mentioned in the text that even though Bitcoin reached a new high in October last year, SHIB did not see a corresponding significant increase. This reflects that the resilience of this token during the recent market cycle has clearly weakened compared to the rally in 2021.
The upward trend in 2021 is difficult to replicate.
The article defines SHIB as memecoin, and points out that the price fluctuations of such assets largely depend on network popularity and market sentiment. The significant rise of SHIB in 2021 was partly attributed to Vitalik Buterin, one of the co-founders of Ethereum.
According to the text, Buterin received half of the total supply of SHIB at that time, and subsequently destroyed 90% of it. During a period of high demand, this action reduced the circulating supply and drove prices up rapidly. The article argues that such conditions for price increases brought about by special events may not occur again in the current market environment.
