This article estimates how much Shiba Inu must rally to give investors life-changing gains, potentially turning an investment of $1,000 to $1 million.
Shiba Inu (SHIB) is gradually recovering from a devastating collapse that saw its value plunge to a low of $0.00001305 yesterday, February 28. Interestingly, Shiba Inu showcased resilience by rebounding above the $0.000014 price mark a few hours later.
Currently, SHIB is up 6.43% over the past 24 hours, with the token changing hands at $0.00001412. At this price, only 13.74% of Shiba Inu on-chain addresses, with holdings of 135.29 trillion SHIB, are in profit, according to data from IntoTheBlock.
However, 84.37% of total Shiba Inu on-chain addresses holding 830.77 trillion SHIB are at a loss, while 1.89% of addresses boasting a total holding of 18.59 trillion SHIB are at breakeven.
Amid Shiba Inu’s massive drawdown, some investors are taking solace in SHIB’s past incredible performance, which turned meager investments into life-changing gains.
Growth Required to Turn $1K Investment into $1M
Consequently, many wonder whether Shiba Inu can replicate this feat and potentially turn an investment of $1,000 to $1 million. Notably, we need to understand the extent to which SHIB must rise for a $1,000 investment to reach $1 million.
A $1,000 Shiba Inu investment can reach $1 million only if the price of SHIB soars by 1,000x or 100,000%. Applying this growth rate to SHIB’s current price of $0.00001412 will take it to $0.01413, surpassing the highly anticipated one-cent dream.
To put this into perspective, an investment of $1,000 in Shiba Inu today will fetch 70,821,529 (70.82 million) SHIB tokens. This portfolio of 70.82 million SHIB tokens would be worth $1 million if SHIB trades at a $0.01413 target price.
Can SHIB Hit $0.01413?
The one-cent dream has gained popularity within the Shiba Inu community over the years, and several experts have commented on whether it is achievable.
Shiba Inu’s marketing lead, Lucie, believes that $0.01 is achievable and that SHIB will clinch the target in the future. Last year, famous crypto expert Master Kenobi suggested that SHIB might replicate its 2021 performance and potentially soar to a target price of $0.0149.
Interestingly, Changelly analysts predicted that SHIB will soar to $0.014 by June 2050, more than 25 years from now.
However, reaching the one-cent dream or soaring to a target price of $0.01413 could be challenging. Hitting the $0.01413 target will take SHIB’s market cap from $8.32 billion to $8.32 trillion, assuming Shiba Inu’s circulating supply remains stable at 589.25 trillion tokens.
Given the asset’s hefty supply, it is highly unlikely that SHIB will achieve this milestone. Therefore, the Shiba Inu community must burn a huge chunk of the supply, making the $0.01413 target realistic.
