Shiba Inu: If the stock price reaches $0.001, how much would you need to invest to become a millionaire?

Early investors in the Shiba Inu (#SHIB ) have made millions of dollars in profits. Many people who sell early regret their decision and wish they had hung on longer. From its launch in August 2020 to reaching an all-time high of $0.00008616, SHIB’s price surged millions of percent. However, the coin has been on a downward trend following the 2021 highs. Still, many SHIB investors and analysts expect the asset to see a resurgence in 2024.

At $0.001 USD, an investor would need 1,000,000,000 (one billion) SHIB tokens to own $1 million worth of assets. The current price for 1 billion SHIBs is approximately $8,220. SHIB reaching $0.001 would represent an increase of approximately 12,000%. SHIB has grown well over 12,000% since its launch. Therefore, such a price increase is not something the project has not experienced before.

However, the question now is when SHIB will reach $0.001. According to Changelly, SHIB won’t reach $0.001 until at least 2032. According to Telegaon’s analysis, SHIB could reach $0.001 sometime between 2030 and 2040. Therefore, investors may have to wait many years before the popular memecoin reaches its target.

Furthermore, in order to reach $0.001, Shiba Inu (SHIB) would need to reduce its circulating supply. The project currently has approximately 589 trillion tokens in circulation. A price reaching $0.001 per coin would result in an unrealistically large market cap. However, the SHIB team says they are working on a new combustion mechanism. According to rumors, the new destruction portal could remove trillions of SHIBs each year. Therefore, SHIB may hit its $0.001 target sooner than expected.