Shiba Inu investors now can amass SHIB at discounted rates, potentially procuring 1 million tokens with less than $9 at current prices.
Shiba Inu (SHIB) recently broke above the much-coveted $0.00001 price territory, showcasing its potential to stage solo rallies. However, the asset dropped below the zone as selling pressure mounted. Despite bearish sentiments, some investors see this drop as another opportunity to become SHIB millionaires at a discount.
A Shiba Inu millionaire is an investor holding at least 1 million SHIB tokens, regardless of the worth of these tokens. Amid the constant market fluctuations, the value of these tokens continues to swing. Similarly, so does the cost of procuring them.
$8.94 Could Procure 1M SHIB
While the decline in Shiba Inu’s value might trigger concerns among investors, it also presents a chance at becoming a SHIB millionaire with less than $9. Shiba Inu is trading for $0.00000894. A market participant can purchase 1 million SHIB tokens at just $8.94 at this value.
At Shiba Inu’s all-time high value of $0.00008845, accumulating 1 million SHIB tokens cost a whopping $88.45. At the present $8.94, the current cost of becoming a Shiba Inu millionaire represents a massive 89% drop from the cost in May 2021 when SHIB traded at its ATH.
Similarly, amassing up to 100 million SHIB tokens at SHIB’s all-time high required an investment of $8,845. The cost of procuring 100 million SHIB today at the current price is now $894.
Shiba Inu Price Outlook
However, Shiba Inu’s investments go beyond becoming a SHIB millionaire. All investors that delve into an asset do so because they seek to see their investments appreciate. While SHIB’s decline presents a chance to procure more assets at lower prices, the likelihood of a recovery from this decline is not guaranteed.
Shiba Inu has shown promise over the past few days, gaining more than 23% in the last month. The impending launch of Shibarium this month has compounded this rally, triggering massive interest.
Amid this promise, market watchers have forecasted ambitious price rallies, with some projections setting targets up to $0.0001. One million SHIB procured at $8.94 today would be worth $1,000 if SHIB claims $0.0001. However, there is no guarantee of a rally to such a price.
As a result, investors need to conduct proper research and consult with certified financial advisors before making any purchases, as sustained declines could lead to their investments being underwater. Notably, up to 68% of Shiba Inu investors are underwater or seeing a loss in their investments.