What will happen if I invest 100 USD in SHIB in January 2024 today?


Shiba Inu is one of the most talked-about cryptocurrencies, thanks to its rise as a meme coin with strong community support. Many investors wonder what profits they can expect if they invest in SHIB at key times. Let's explore how a $100 investment in January 2024 would be worth today, in October 2024.
SHIB price in January 2024
In early January 2024, Shiba Inu (SHIB) was priced at around $0.000008 per coin. With an investment of $100 at that price, you would be able to buy:
12,500,000 đồng SHIB ($100 ~0.000008 USD).
The value of SHIB today (October 2024)
As of October 2024, assuming the price of SHIB has increased to $0.00001. To find out the current value of your SHIB coin:
12,500,000 đồng SHIB × 0.00001 USD = 125 USD.
Therefore, your $100 investment will now be worth $125.
Growth in your investment
From January to October 2024, your $100 investment will increase to $125, marking a 25% profit in about 10 months.
What factors affect the price of SHIB?
There are a number of factors affecting the price volatility of SHIB:
- Market trend: Meme coins like SHIB often experience strong price fluctuations due to social media trends and general sentiment towards cryptocurrencies.
- Application and utility: When SHIB is used more, its value can increase.
- The cryptocurrency market condition**: SHIB, like all other cryptocurrencies, is affected by the overall market performance.
Fluctuations and risks
Although a 25% profit may seem attractive, it is important to remember that SHIB, like many other cryptocurrencies, is highly volatile. Prices can fluctuate significantly, and investing in meme coins comes with considerable risk.
Conclusion
If you invest $100 in SHIB in January 2024, your investment will be worth about $125 today, yielding a 25% profit. Although this profit may not seem significant, it highlights the potential profit even when prices fluctuate slightly in large supply, low price cryptocurrencies. However, always be cautious when investing in volatile assets like SHIB and understand the associated risks.
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