Shiba Inu (SHIB) is among those cryptos that have turned many investors into multi-millionaires. Although the popular memecoin has been on a downward trajectory after hitting its all-time high in October 2021, many hope they can still make millions in the next bull run. SHIB fans, popularly called the SHIB Army, are still pursuing the “1-cent dream” and are determined to achieve the price point as soon as possible.
Also Read: Shiba Inu: Top 3 Things That Need to Happen for SHIB to Hit $0.01
However, to become a millionaire with SHIB requires investors to hold a certain number of tokens.
How to make $20 million when Shiba Inu hits $0.01?
If SHIB reaches $0.01 from its current price, it would translate to a growth of about 115909%. To have $20 million worth of tokens at $0.01, an investor would need 2,000,000,000 (2 billion) SHIB. The price of 2 billion SHIB right now is around $17,240. The return on investment (ROI) would be massive if the project can achieve its 1-cent goal.
Nonetheless, the journey to $0.01 is not an easy one. Investors would need a lot of patience and perseverance along the way. According to Telegaon, Shiba Inu (SHIB) might reach $0.01 between 2040 and 2050, 16-26 years from now.
Also Read: Shiba Inu (SHIB) Could Rally 2X in December: Predicts Analyst
Moreover, reaching $0.01 would require a significant reduction in circulating tokens. Shiba Inu (SHIB) currently has about 589 trillion circulating tokens. If SHIB hits $0.01, the project’s market cap would be unrealistically large. However, the SHIB team has said they are working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the new burn mechanism succeeds in removing trillions of SHIB tokens every year, it could achieve the $0.01 target much sooner.
Moreover, the project would also need to witness an increase in demand. SHIB lead developer Shytoshi Kusama highlighted that burns alone will not push the token’s price. Burns would need to be coupled with high demand for the memecoin to see a rise in price.
