Shiba Inu (SHIB) has been on a downward trend since February 2023. The popular dog-themed crypto has struggled to cross the $0.000008 resistance level despite the collective market recovery. However, the project’s lackluster performance has not stopped investors from working towards removing a few decimal zeros from the asset’s price.
If Shiba Inu (SHIB) deletes two zeros from its current price, it would mean a growth of 9900%. If an investor was to purchase $1000 worth of SHIB at current prices, they would get about 128205128 tokens. Given that SHIB rallies by 9900%, the same investment would be worth around $100,000.
Also Read: With $1,000, How Much Money Can You Make If Shiba Inu Reclaims Its ATH?
How many tokens are needed to be a millionaire if Shiba Inu deletes two zeros?
If SHIB removes two zeros from its price, $1 million would equate to about 1282051282 tokens. The price of these tokens right now is about $10,000. Therefore, an investor with just $10,000 can become a millionaire with SHIB, if the project can delete two zeros from its price.
The question now becomes how can Shiba Inu (SHIB) actually remove two zeros from its price. Firstly, as mentioned above, the project has seen gains similar to 9900% in the past. Therefore, it is not something impossible to achieve. However, the journey to get there might not be as simple. SHIB would need to significantly increase demand among investors. The project is on the verge of releasing its blockchain, Shibarium, which may increase its use cases, thereby increasing demand.
Secondly, SHIB would need to reduce its circulating levels dramatically. There are rumors that Shibarium will introduce a new burn mechanism that could reduce trillions of tokens on a monthly basis. However, burns without demand would not do much to push the asset’s price. At press time, Shiba Inu (SHIB) was trading at $0.00000780, down by 0.9% in the last 24 hours.
Also Read: Shiba Inu Burn Tracker Explains Why Burns Are Not Moving Prices
