Per one of our previous reports, we mentioned how different top sources accessed the possibility of Shiba Inu tokens attaining a price high of $0.01. However, despite no potent indications of SHIB hitting a market worth a high of $0.01, proponents have projected the amount to invest in SHIB to ascend to millionaire status if SHIB eventually hits the forecasted $0.01 market price.
Based on what these advocates have proposed, crypto investors must be ready to invest a little less than $1,000 if they hope to make up to a million dollars in profit, provided that SHIB gets to attain the projected $0.01 selling price.
Read Also: Machine Learning Algorithm Sets Shiba Inu (SHIB) Price for 1st of June 2023
How Much to Invest to Reach Millionaire Status
The last time Shiba Inu experienced a massive rally, about 410 trillion tokens were burned by Vitalik Buterin in May 2021. This saw the SHIB price surge from $0.000000010983 in February 2021 to $0.00008190 in October of the same year, representing a 745,597% increase.
At that time, $134 was enough for investors to make $1 million. Based on SHIB’s current price, an estimated 1,132× price increase is required for the token to reach the $0.01 price mark.
Considering SHIB’s current price, it needs to surge 1,169x to attain $0.01. If SHIB attains this seemingly impossible height against all odds, an investor would need about $850 to make $1 million. Also, an investment of $8,554 is needed to make $1 million if the SHIB price hits $0.001.
Possibilities Of Seeing $0.01 Projected Price
It’s no longer news that the Shiba Inu community is on a mission to burn down the huge circulating supply. Some independent projects within the Shiba Inu ecosystem, such as the Blaze Token and the Koyo Token, took it upon themselves to contribute to the burn initiative.
Also, upcoming Shiba Inu projects like Shibarium, ShibaSwap 2.0, and an overall improved Shiba Inu Metaverse can increase utility in the ecosystem, thereby adding value to the digital token SHIB.
Read Also: Shiba Inu Team Member Releases Latest Update Regarding Shibarium Launch: Details
Shiba Inu (SHIB) in the Market. Bearish or Bullish
The ongoing bearish storm in the crypto sphere, in conjunction with SHIB’s massive supply, seemed to hinder the possibility of a bullish run for SHIB coins anytime soon. While some advocates remain hopeful that SHIB will reach the $0.01 price high, let’s look at Shiba Inu’s data on the leading crypto aggregating platform.
According to CoinMarketCap, Shiba Inu is ranked 15th and selling for $0.000008838, having witnessed a 3.15% increase that amounted to the addition of +$0.0000002718 to the coin’s previous selling price. From a total supply of 589,595,029,859,671 SHIB tokens, 589,353,544,428,282 are in circulation, posing a threat to Shiba Inu’s ascent in price.
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