It is no longer news that the crypto market is presently experiencing a spontaneous decline in activities and other significant market indices.
Amid the prevailing bearish market outlook, most crypto projects have struggled to remain afloat. Notedly, top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), etc, were not spared from recording losses.
On the other hand, cryptocurrencies that seemed to show prospects of becoming a hit soon were also affected, with Shiba Inu (SHIB) appearing to be among a few of the most unlucky crypto projects.
Recall that the launch of Shibarium, Shiba Inu’s Layer-2 scaling solution, coincided with the time the broad crypto market appeared exceedingly bleak.
In a nutshell, the present market state remains part of the reasons why the Shibarium’s launch appeared not to meet the speculated hype before its launch.
Nevertheless, despite the declining market state, Shiba Inu enthusiasts seemed unperturbed. They continued speculating bullish sentiments on the coin’s market value. The positive market outlook expressed by Shiba Inu enthusiasts could stem from keeping faith with Shibarium.
It is worth noting that 357 million SHIB tokens were removed permanently from Shiba Inu’s circulating pool within 24 hours of Shibarium’s launch; this is a testimony of the technology’s impact on improving Shiba Inu’s market activities.
In light of Shiba Inu’s positive price sentiment, we shall evaluate the investment sum required to accumulate $500,000 if Shiba Inu succeeds in hitting two of its highly speculated price targets.
At the time of writing, Shiba Inu’s price is $0.00000843, and our calculations would revolve around this price.
Required Amount To Make $500,000 If SHIB Hits $0.001
Making $500,000 if SHIB eventually hits the $0.001 price mark would require Shiba Inu holdings of 500 million tokens.
Purchasing 500 million tokens at SHIB’s current price would cost $4,215. This implies a profit of about $495,785 for investors willing to invest in Shiba Inu at its current price.
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Required Amount To Make $500,000 If SHIB Hits $0.01
Should Shiba Inu attain a $0.01 price level, 50 million SHIB tokens would sum up to $500,000. Investors hoping to leverage SHIB’s current low price would only spend $421.5 to purchase 50 million SHIB holdings.
Notably, 50 million SHIB holdings would run into a profit of $499,578.5 once Shiba Inu reaches the $0.01 price mark.
Meanwhile, per a previous report, Del Crxpto, a prominent crypto technical analyst, hinted that Shiba Inu’s next bull run after the Ethereum congestion would propel the asset to $0.01.
On the other hand, David Gokhshtei, Gokhshtein Media founder, recently said the $0.01 price point could be an impossible feat for the cryptocurrency, citing its gargantuan supply.
As readers can see that there are contrary opinions from experts, this makes it essential for proper research before investing in digital assets as no speculated price point is certain.