To own $1 million worth of Shiba Inu (SHIB) when the price per token reaches $0.007, you will need approximately 142,857,142.857 (142.85 million) tokens. 142.85 million SHIB tokens are now priced at approximately $2411.42. Your portfolio value would have increased by approximately 41,369%.
While the percentage increase may seem staggering, it should be noted that the price of SHIB increased by millions of percentage points in its first year. SHIB experienced explosive growth since its launch in August 2020 until reaching an all-time high of $0.00008616 in October 2021. Early investors made millions, and in some cases billions, of dollars in profits.
SHIB’s price is down more than 80% from its 2021 peak. The asset has struggled to regain its previous momentum.
Can you become a millionaire with a Shiba Inu?
SHIB is a very popular cryptocurrency favored by new investors who want to make a lot of money in a short period of time. SHIB's 2020-2021 rise is a credit to its millionaire profile. Although the asset has struggled since 2021, there may still be time for SHIB to make a fortune.
The large supply of Shiba Inu is one of the biggest obstacles to its price increase. The SHIB team is said to be developing a new destruction mechanism that will allegedly destroy trillions of tokens per year. If the team can significantly reduce the supply of the asset, investors' efforts to aim for higher pricing will be greatly helped.
Lead developer Shytoshi Kusama said that burning alone will not drive up the price of SHIB. The project also needs more adoption to drive the price up.
If the Shiba Inu reduces supply and increases adoption, its price will break out to a rally like it did in 2021.
To own $1 million worth of Shiba Inu (SHIB) when the price per token reaches $0.007, you will need approximately 142,857,142.857 (142.85 million) tokens. 142.85 million SHIB tokens are now priced at approximately $2411.42. Your portfolio value would have increased by approximately 41,369%.
While the percentage increase may seem staggering, it should be noted that the price of SHIB increased by millions of percentage points in its first year. SHIB experienced explosive growth since its launch in August 2020 until reaching an all-time high of $0.00008616 in October 2021. Early investors made millions, and in some cases billions, of dollars in profits.
SHIB’s price has fallen by more than 80% from its 2021 peak. The asset has struggled to regain its previous momentum.
Can you become a millionaire with a Shiba Inu?
SHIB is a very popular cryptocurrency favored by new investors who want to make a lot of money in a short period of time. SHIB's 2020-2021 rise is a credit to its millionaire profile. Although the asset has struggled since 2021, there may still be time for SHIB to make a fortune.
The large supply of Shiba Inu is one of the biggest obstacles to its price increase. The SHIB team is said to be developing a new destruction mechanism that will allegedly destroy trillions of tokens per year. If the team can significantly reduce the supply of the asset, investors' efforts to aim for higher pricing will be greatly helped.
Lead developer Shytoshi Kusama said that burning alone will not drive up the price of SHIB. The project also needs more adoption to drive the price up.
If the Shiba Inu reduces supply and increases adoption, its price will break out to a rally like it did in 2021.