The Shiba Inu (SHIB) memecoin has captured the interest of investors and crypto enthusiasts due to its impressive initial growth. However, the token has taken a hit during a prolonged crypto winter and now trades 90.6% below its all-time high set in October 2021.
Major market downturns can cause newcomers to panic sell. On the other hand, professional traders see these dips as valuable opportunities. For this reason, many wonder, “How much would one need to invest in SHIB to become a millionaire in the next bull run?”
Introduced to the crypto scene two years ago, Shiba Inu was hailed as the “Dogecoin killer.” Within days of its launch, the coin surged by an astonishing 1,500%. This unprecedented growth spurred widespread speculation that SHIB might someday hit the elusive $1 mark.
Currently, SHIB occupies the 15th spot on the list of highest market-cap cryptocurrencies.
Read more: Will The Price of Shiba Inu (SHIB) Reach $1? This is Bard’s Prediction
Many investors view Shiba Inu as a speculative play, and with good reason. The coin’s price has witnessed dramatic ups and downs. Yet, the SHIB army remains hopeful for the coin’s long-term trajectory.
The developers work diligently to expand the ecosystem and aim to shift SHIB’s perception from being merely another memecoin. With Shibarium’s launch, the project has entered the competitive Layer-2 blockchain space, which only a few major players currently dominate.
One can use the following formula to determine the quantity of SHIB needed to achieve $1 million at its historical peak of $0.00008616:
The number of SHIB = Target amount / Expected future price.
- Target amount = $1 million
- Expected future price = historical peak of $0.00008616
By this logic, achieving a clean $1 million would require an investment of approximately 11,608,793,610 SHIB. With SHIB’s current price tag of $0.00000809, that translates to an investment of roughly $93,947.
Read more: Shiba Inu (SHIB) Price Prediction 2023/2025/2030
It is essential to remember that the crypto market is incredibly volatile, subject to unforeseen events or “black swans.” The provided calculations stem from present data and speculation.
One must always prioritize risk and money management, ensuring one only invests funds one is prepared to part with.
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.