Shiba Inu (SHIB) created several millionaires during the 2021 bull run. Investors with minimal investments made big returns within months. However, SHIB’s price has taken a massive dip since its 2021 all-time high of $0.00008616. According to CoinGecko data, SHIB’s price is down by nearly 92% from its peak. Many wonder if they can still become millionaires with Shiba Inu (SHIB) today. Let’s discuss if it is still possible.
Can Shiba Inu Still Create Millionaires?
If you invest $1000 in Shiba Inu (SHIB) today, you will receive about 166,666,666.67 coins (166.66 million). For 166.66 million SHIB tokens to be worth $1 million, the price of each token has to hit $0.006. SHIB’s price has to rally by about 99,900%.
While Shiba Inu (SHIB) has delivered gains more than 99,900% in the past, hitting the $0.006 target may not be realistic just yet. The project has about 589 trillion coins in circulation. If the price of each coin hits $0.006, the project’s market cap will climb to $3.53 trillion. The figure represents a market cap much larger than Bitcoin (BTC) and other major tech companies. In fact, it is larger than the GDP of several countries. Hence, hitting $0.006 is not a realistic goal for Shiba Inu (SHIB).
Also Read: $2,000 in SHIB or DOGE by 2030: Which Could Return 4,390%?
To become a millionaire with Shiba Inu (SHIB) you would have to invest a far larger number than just $1000. Let’s assume SHIB hits a realistic goal of $0.00009, which would be a new all-time high for the coin. To have $1 million worth of SHIB at $0.00009 per coin, you will need about 11,111,111,111.11 (11.11 billion) coins. The value of 11.11 billion coins right now is about $66,666. Hence, it is possible to become a millionaire with Shiba Inu (SHIB), but you would need to put in a lot more than what investors did in SHIB’s early days.
