[ccpw id="39382"]

HomeCrypto NewsMarketHow Much to Invest to Become a Shiba Inu Millionaire if SHIB Hits $0.01

How Much to Invest to Become a Shiba Inu Millionaire if SHIB Hits $0.01


Written By:

At the current price of Shiba Inu, an investor would need to commit $878 now to become a SHIB millionaire if the asset eventually hits a $0.01 price point.

Shiba Inu (SHIB) has positioned itself as one of the biggest historical gainers in the crypto scene, having made millionaires out of investors with initial investments below $100 in 2021.

As previously reported by The Crypto Basic, a recent CoinGecko report revealed that Shiba Inu boasts the highest returns for any meme coin launched so far. According to the report, a $12 SHIB investment in 2021 yielded $1 million in the space of 15 months.

Several investors have expressed regret over missing the asset’s 2021 run. However, if there was another chance, how much would an investor need to make $1 million from SHIB should the asset eventually surge to the ambitious price goal of $0.01?

SHIB has been caught in a bearish storm for the most part of this month, but this might actually be favorable to market participants looking to procure the asset at a discount. Shiba Inu is currently changing hands at $0.00000878 as of press time. To secure a $1 million return if Shiba Inu hits $0.01, you would need to buy $878 worth of SHIB.

At the current price, if you purchase Shiba Inu right now with $878, you would get 100 million SHIB tokens. If these 100 million tokens are HODLed until the asset hits $0.01, the tokens would be worth a massive $1 million.

Can Shiba Inu Hit $0.01?

However, the significant clause here is whether SHIB is capable of hitting the ambitious price target of $0.01. At its current price of $0.00000878, Shiba Inu would need to skyrocket by approximately 113,795%, or 1,113x, to hit a price of $0.01.

While this seems like an unfeasible dream, it is important to note that SHIB previously surged by 8,424,203, or 84,242x, from its price at launch to its all-time high value in 2021. This is according to data from CoinGecko. However, one of the major factors that contributed to this surge was the burn of 410 trillion tokens by Vitalik Buterin that year.

Similarly, an enormous burn such as the one carried out by Buterin could provide Shiba Inu with enough support to have a go at the $0.01 price point. As disclosed by The Crypto Basic this month, SHIB’s dream to hit $0.01 is hinged on an acceleration of burns, especially as facilitated by the community and the upcoming Shibarium network.

With its current supply above 574 trillion tokens, a $0.01 price target is nothing but an improbable wild dream. However, the emergence of projects that can drastically reduce its supply could be the game-changing factor. Nonetheless, this is a mere analysis of the asset’s price statistics, and should not serve as investment advice.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

More from Author