The prevailing Shiba Inu downturn presents buying opportunities for market participants, but how much would an investor need at current prices to own 1 million SHIB?
While the current market condition has contributed to a prevailing case of angst among Shiba Inu holders, it also gives these investors an opportunity to procure SHIB tokens at much lower prices. One opportunity this downturn presents is a chance for market participants to become SHIB millionaires at a lower cost.
Amount Needed to be a SHIB Millionaire
A SHIB millionaire is an individual who owns at least 1 million Shiba Inu tokens in their portfolio. This idea remains the same regardless of SHIB’s price. However, the more Shiba Inu plummets, the less investors would need to spend to become SHIB millionaires.
At Shiba Inu’s all-time high price of $0.00008845, market participants needed $88.45 to amass 1 million SHIB tokens. Similarly, procuring 100 million Shiba Inu necessitated an investment of $8,845.
Nonetheless, the necessary funds required to purchase the same assets have drastically reduced due to the Shiba Inu price drop. Since April, SHIB has broken below four psychological support levels, presenting an attractive “buy-the-dip” opportunity.
Shiba Inu is currently changing hands at $0.00000762. Investors would need a meager $7.62 to become SHIB millionaires at this value. This represents a massive 91.3% decrease in the funds required to procure 1 million SHIB. Similarly, 100 million SHIB can be purchased for $762, less than $1,000.
Can Shiba Inu Rally from Current Levels?
Despite the buying opportunity presented by this recent price dip, investors remain cautious about procuring more SHIB tokens. This caution is common among market participants and is typically triggered by the question: how likely is Shiba Inu to rally from the current price levels?
Much like every other asset, SHIB is subject to market movements. While Shiba Inu has the potential to rally by an impressive margin, this sort of price surge is not a guarantee. The asset is also likely to drop further from its current position.
However, the community has continued to introduce several initiatives that could support SHIB’s price action. These projects include Shibarium, Shibacals, and SHIB: The Metaverse. Tireless efforts are underway to introduce utility, bolster demand and contribute to burns. These could assist Shiba Inu.
While these projects can support Shiba Inu’s price movements, the extent of their support remains to be seen. As a result, investors should remain cautious when making investment decisions and seek expert opinion from certified professionals.
Meanwhile, as of press time, SHIB is up 0.58% in the last 24 hours, trading for $0.00000762. The Redhill Group CEO Austin Hilton recently noted that this might be the right time to procure SHIB before it stages a rally on the back of the Shibarium mainnet launch.