Shiba Inu (SHIB) has massive volatility that turned many early adopters into millionaires, and market watchers believe the token still has the tendency to repeat the sequence.
The emergence of Shiba Inu in August 2020 brought with it a great fortune pot that turned many who bought the token early into millionaires. As a lot-priced altcoin, a small cash investment in SHIB at the time of launch is enough to hand many the financial freedom they crave.
With a weekly $100 investment in SHIB from the time of launch, until the ATH price kicked in on October 28, 2021, the narrative as it concerns the reward potentials changes drastically.
How Much Weekly $100 Injection in SHIB Can Bring at ATH?
As noted, a weekly $100 investment in Shiba Inu from the time it launched would have amounted to $6,400 at the time the token recorded its ATH. Compounding the investments this way would have helped investors grow their portfolio by as much as $1.38 billion.
At the time of writing, SHIB’s price in the market is worth $0.00000834 after hitting a 2.84% surge overnight. Despite Shiba Inu’s current gloomy outlook, it has soared by 10,239,385.43% from its lowest recorded price of $0.00000000008165 per CoinMarketCap’s data.
Massive as this growth sounds, a lot in the crypto world believe they have missed the train to cash in early on Shiba Inu. However, it investors need to note that the token’s volatility can still help it print more bullish price surges ahead.
There are projections that posits the token will hit 1 cent within a decade, a valuation that users injecting $100 now can still capitalize on with potential to earn millions in return later.
The Issue With SHIB Supply
The ambitious plan of Shiba Inu to hit the 1 cent price mark is near impossible with its current circulating supply of 589,346,914,631,298 SHIB. Failure to cut down the supply makes achieving this bullish price target economically unrealistic as the market capitalization will shoot beyond a reasonable threshold.
To prevent this, it needs to adopt an aggressive deflationary system. SHIB takes a reasonable quantity of the token off circulation through burning. Also, core developers have hinted at plans to integrate a burn portal on Shibarium to help facilitate the burn. However, the extent of the contribution of these initiatives remains to be seen.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
