Can Shibarium Launch Make Shiba Inu Investors Millionaires with Just $1,000?

Being the most anticipated project in the Shiba Inu ecosystem, could Shibarium make SHIB investors millionaires with just $1,000 upon launch?

The Shiba Inu (SHIB) community anticipates deploying multiple projects within the ecosystem. Chief among them is Shibarium, the upcoming layer-2 network. While some proponents expect Shibarium to have an impact on SHIB’s price, the extent of this impact remains debatable.

Can $1,000 in Shiba Inu Yield $1M?

As disclosed by CoinGecko in a May report, Shiba Inu previously made millionaires out of investors during its bull run in 2021. These investors raked in $1 million with only $12 in initial investments. Due to its bullish history, new investors anticipate a similar run in the future.

Some proponents have continued to champion the narrative of a Shiba Inu rally to $0.001, $0.01, or even $1. While market watchers cannot entirely dismiss the possibility of such rallies, the chances of them materializing in the foreseeable future are slim.

As investors anticipate a rally, the amount needed to rake in $1 million has been a subject of debate. Some project $100,000, while others predict a meager $1,000 is enough once SHIB engineers a rally.

Notably, a $1,000 investment in Shiba Inu would procure 128.7 million tokens at SHIB’s current price of $0.00000777. For these tokens to reach a worth of $1 million, Shiba Inu would need to rally by 99,900% to a price of $0.00777. This is highly unlikely.

One of the major factors hampering SHIB’s growth is its large circulating supply. The asset can only attain rallies of this magnitude if its supply is significantly reduced. Shiba Inu’s previous run was possible due to Ethereum founder Buterin’s 410.2 trillion token burn.

The Role of Shibarium

To this end, community members have tapped Shibarium as the major catalyst for a future SHIB rally. The upcoming layer-2 scaling protocol could bolster Shiba Inu burns and introduce utility to the ecosystem.

With its unveiling expected in August during the Blockchain Futurist Conference in Toronto, the community eagerly anticipates the impact Shibarium’s launch will have on the overall ecosystem.

In addition to burning SHIB with 70% of base transaction fees collected, Shibarium will drive demand for the asset by introducing utility as projects onboard the protocol. The sheer number of submissions for the Shibarium intake form shares insight into the interest in the network.

However, the extent to which Shibarium will impact the price of Shiba Inu remains to be seen. Such impact will directly depend on Shibarium’s adoption rate. Regardless, despite the possibility, SHIB’s ability to yield $1 million from a $1,000 investment remains unlikely.