The Shiba Inu (SHIB) current market condition presents an opportunity for investors to become millionaires in SHIB with only $8.
Shiba Inu (SHIB) has been trapped in a bearish pattern since breaking below the $0.00001 territory on May 6. The unfavorable condition in the broader market has dampened any hope of recovery. However, this bearish situation presents a chance for investors to procure SHIB at a discount.
At SHIB’s current price of $0.00000845, proponents can procure a million tokens at a paltry $8.45. This purchase would make any investor a millionaire in SHIB (someone who holds 1 million Shiba Inu tokens), allowing them to take advantage of subsequent price surges, which would grow their investments.
Most seasoned market watchers believe bear markets are periods for accumulation, as they present a chance for investors to amass more of their favorite tokens at a discount as they anticipate the next bull market. The Shiba Inu community remains bullish on the asset’s long-term prospects, leveraging the downtrend for discounted accumulation.
Shiba Inu has its eyes set on the lofty price target of $0.001. The asset would need an 11,734% increase in value to hit this goal. Should SHIB hit this target, investors who procured a million tokens with $8.45 would see their investment grow to $1,000. Moreover, if the goal is reached, an $845 initial investment would appreciate to $100,000.
If Shib reaches $1, holding 1 million SHIB coins with $8 would make one a SHIB millionaire.
Shiba Inu to $0.001: Possible or Unfeasible?
However, the crucial question is whether Shiba Inu has the potential to reach this price goal. While the target is possible, SHIB’s ability to capture it depends on several factors, including the asset’s burn rate, its adoption, and the success of upcoming projects such as Shibarium, the Shiba Inu Metaverse, and ShibaSwap 2.0.
As recently disclosed by The Crypto Basic, Google’s Bard AI asserted that Shiba Inu can hit $0.001 in the future. However, the chatbot highlighted project development, token burns, and the overall market as the primary catalysts of such a price rally.
Shiba Inu has registered a similar price surge in the past, but this was pushed by an uptick in adoption and a monumental token burn carried out by Vitalik Buterin. To embark on another run in the future, SHIB would need these factors to be implemented.
At the time of reporting, Shiba Inu is trading for $0.00000845, down 0.25% in the past 24 hours. SHIB is currently aiming to recover the losses of the past week. However, opposition from the bears has kept it below the $0.000009 threshold. While SHIB presents a good buy opportunity, this should not be investment advice, as the market remains unpredictable.