Shiba Inu is a long way from its All-Time High (ATH) of $0.00008845, but how long would an investor need to become a millionaire should SHIB reclaim this value?
Despite the market-wide turmoil, Shiba Inu has garnered the attention of the broader crypto community, attracting a wave of investors. However, how much would an investor need to put into the asset to become a millionaire when it reclaims its all-time high value?
Shiba Inu is Down 91% from ATH
Shiba Inu attained its all-time high value of $0.00008845 in October 2021. This price point resulted from an elongated rally that gained stream at the start of 2021. However, nearly two years later, SHIB is currently 91.89% down from the ATH value, per CoinMarketCap data.
The Shiba Inu community has championed several initiatives aimed at facilitating a price recovery for the asset. Though a goal of $0.0001 is set, the asset would need to reclaim its ATH value before it can have a chance at hitting this target.
Despite the recent modest rally, Shiba Inu is still down 17.38% in the past 30 days. While this decline can compound investor angst, some market participants see it as an opportunity to amass more tokens at a discount. This allows investors to procure more Shiba Inu for less.
How Much Needed to Become a Millionaire at SHIB’s ATH
At its all-time high value of $0.00008845, an investor would need approximately 11.31 trillion Shiba Inu tokens to become a millionaire. However, market participants would need less money to procure 11.31 trillion SHIB due to its price decline.
Shiba Inu is currently changing hands at $0.00000718 as of press time. To purchase 11.31 trillion SHIB at its current price, you must invest an estimated $81,180 in SHIB.
If these 11.31 trillion tokens are held through the market turmoil until Shiba Inu reclaims its all-time high value, Shiba Inu would be worth $1 million. This would mark a return of up to $918,000 and an appreciation rate of 1,131%.
However, the important question is, can Shiba Inu reclaim its all-time high? The answer remains uncertain, as the direction of the market remains unpredictable. As a result, it is advisable to conduct proper research before making any investment decisions.
Meanwhile, Shiba Inu has finally reclaimed the $0.000007 zone following an impressive surge observed over the weekend. SHIB has gained 7.49% over the past week, with up to four consecutive days of persistent gains. The Crypto Basic noted last week that on-chain data suggests the asset might be gearing for a price recovery.