Shaqiri joined the Reds for £13million in the summer despite failing to guide his previous club Stoke away from relegation to the Championship in the 2017/18 campaign.
The Switzerland international was criticised for failing to help the Potters avoid the drop by former team-mate Charlie Adam.
There were also doubts about how big a role Shaqiri would play in the first-team at Anfield but he has performed well so far.
The attacking midfielder has scored three goals and provided two assists in eleven appearances this season – his most recent strike coming during Liverpool’s 3-1 win at Burnley on Wednesday night.
And talkSPORT host Cundy admitted he didn’t feel Shaqiri had it in him to thrive at a top four club like Liverpool.
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He said: “Shaqiri has come in and done far better than what I felt he would.
“I didn’t think he was a top four player, I thought he was a squad player but he’s come in and upped his game.
“We’re seeing the best Shaqiri that I’ve seen in English football and that included some of the stuff he did at Stoke when he and Marko Arnautovic were on fire but it was inconsistent.
“Now he’s got a consistency about his game.”