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How to become a millionaire when SHIB hits $0.007

How to become a millionaire when SHIB hits alt=
How to become a millionaire when SHIB hits alt=

To own one million dollars worth of Shiba Inu (SHIB) when the price of each token reaches $0.007, you would need about 142,857,142.857 (142.85 million) tokens. The price of 142.85 million SHIB tokens is currently about $2411.42. The increase in the value of your portfolio would be about 41,369%.

While the percentage increase may seem incredibly high, it is important to remember that SHIB’s price increased by many millions of percent in its first year. From its launch in August 2020 to reaching an all-time high of $0.00008616 in October 2021, SHIB experienced an explosive rise, with early investors making millions in profits, and in some cases billions.

Also read: Shiba Inu to $0.01? US listed company accepts SHIB payments

SHIB price has fallen by over 80% since its 2021 peak. The asset has struggled to regain the same momentum as before.

Can you still become a millionaire with Shiba Inu?

shiba inu bokeh lights shibshiba inu bokeh lights shib
Source: Pixabay

SHIB is an incredibly popular cryptocurrency among new investors looking to make it big in a short period of time. The asset’s run-up in 2020-2021 is responsible for SHIB’s image as a millionaire maker. Although the asset has struggled since 2021, there might still be time for SHIB to make it big.

The massive supply of Shiba Inu is one of the biggest obstacles to its price. The SHIB team is said to be developing a new burn mechanism that will reportedly burn trillions of tokens every year. Investors’ efforts to target higher prices will be greatly aided if the team can significantly reduce the supply of the asset.

Also read: Shiba Inu has generated a return of $1.5 billion on a $46,000 investment

Lead developer Shytoshi Kusama said that the burns alone will not drive up the price of SHIB. The project will also need more adoption for prices to rise.

If Shiba Inu reduces its supply and increases adoption, its price will see a rally like in 2021.

Shiba Inu

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