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Shiba Inu Investors could witness impressive returns on their $1,000 investments if Shiba Inu reaches certain price milestones.
The crypto market is currently showing signs of a gradual recovery, and Shiba Inu looks to ride on this campaign. With Bitcoin (BTC) having breached the $68,000 territory, on track to claim $69,000, SHIB has also reclaimed the $0.000018 region, solidly trading above it.
Shiba Inu Long-Term Holders Surge
Currently changing hands at $0.00001899, Shiba Inu is now retesting the $0.000019 price territory. A confident breach of this level could set the stage for a greater price appreciation. This current position has rekindled confidence among long-term investors, who expect substantial returns on their holdings.
Data from IntoTheBlock indicates that while Cruisers (those holding SHIB between 1 and 12 months) and Traders (those holding SHIB for less than a month) have gradually reduced their balances, Hodlers (investors holding SHIB for over a year) have increased in number.
Notably, the number of Traders has dropped from 26,180 on Sept. 1 to the current figure of 25,660. Similarly, Cruisers amounted to 263,640 as of Sept. 1. However, this figure has shrunk to 257,950 at the reporting time.
Meanwhile, in a contrasting trend, Hodlers have increased from 1.06 million on Sept. 1 to 1.07 million at the time of writing. Also, the total number of Shiba Inu addresses has steadily risen over the past year, with the meme coin seeing an addition of 60,000 addresses since October 2023.
Returns on $1,000 if SHIB Hits $0.0003 or $0.003
One of the major reasons behind this increase is optimism in Shiba Inu’s ability to replicate part of its 2020/2021 run, which transformed $12 to $1 million. Further data shows that wallets holding between $100 and $1,000 in SHIB have spiked to 384,040, the second largest tier of addresses.
Should Shiba Inu reach certain price targets, these investors could witness massive returns. For instance, in July, a Forbes report predicted that SHIB could hit $0.0003 between 2024 and 2025. In addition, a market analyst projected in June that Shiba Inu could reach $0.003 if BTC clinches $150,000.
Investors with $1,000 worth of SHIB would see an appreciation in their bags if $0.0003 or $0.003 materializes. These investors currently hold 52.65 million SHIB tokens. If Shiba Inu spiked to the $0.0003 target, the tokens would surge to $15,797, bringing in returns of more than $14K.
Meanwhile, if the $0.003 target plays out, a more substantial return would materialize. Notably, should Shiba Inu hit $0.003, the 52.65 million tokens would grow to $157,977. This translates to a profit of over $156K. However, it bears mentioning that these targets remain speculative as of press time.