Shiba Inu investors could see their $1,000 investments skyrocket to substantial levels if SHIB ever claims a $1 price.
While the crypto market has already embarked on a rebound campaign, the losses of the past month have not been fully recovered. For instance, Bitcoin (BTC) is up 10.66% this month, as opposed to the 14.94% drop recorded in April.
Shiba Inu’s 27.16% decline last month suggests that it still has a long way to go before recouping all of April’s losses despite an 11.12% gain this month. Meanwhile, multiple market analysts have identified a Shiba Inu symmetrical triangle on the daily chart, projecting massive price gains when the breakout is completed.
Worth of $1,000 at a SHIB Price of $1
Most of these targets have been in fractions of a cent, but some commentators have not shied away from predicting an audacious $1 price. While such a projection is near impossible, the prospect has indeed caught the attention of market participants.
Hypothetically, to present a clear idea of just how massive a rally to $1 could be, The Crypto Basic assessed its impact on a $1,000 investment in Shiba Inu today. Notably, committing $1,000 to SHIB at the current value of $0.00002489 will amass 40,176,777 (40.18 million) tokens.
The worth of these SHIB tokens would skyrocket to $40.18 million if Shiba Inu ever clinched a $1 price. For better context, a $1 investment in Shiba Inu at the current value would yield $40,176 and a $10 investment would bring in $401,767 if SHIB reached the $1 price.
Is a $1 Price Realistic for Shiba Inu?
This assessment presents a clear picture of the extent of the gains a rise to $1 would yield, further confirming that such a rally might not be possible in the near future. For context, a surge to $1 would lead to a $589 trillion market cap for Shiba Inu, making it the largest asset in the world by a large margin.
While there isn’t enough money in the world to back up this valuation, crypto price prediction resource Telegaon has already projected a timeline for the $1 price target.
Please #DYOR* after all
