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A Shiba Inu rally has the potential to change the lives of investors earning minimum wage in various countries.
For context, data from blockchain resource IntoTheBlock confirms that 1,233,140 Shiba Inu investors hold between $0 and $1,000 worth of SHIB. This number accounts for 90% of all Shiba Inu holders.
Notably, Shiba Inu currently trades for $0.00001794 at the reporting time, indicating that a $1,000 investment currently holds 55.74 million SHIB tokens.
Shiba Inu Potential
However, supposing these 1.233 million investors hold an average of $500 worth of Shiba Inu, this would translate to an average holding of 27.87 million tokens. This investment could make life-changing gains for investors earning minimum wage in various countries.
Several analysts have predicted a massive SHIB rally for this bull run due to its meteoric surge in the 2020-2021 bull market. Amid the predictions, a previous report from The Crypto Basic confirmed that Shiba Inu would hit $0.0008485 if its market cap reached $500 billion.
This would represent a massive 4,629% increase from its current price of $0.00001794. Such a rally would be beneficial, especially for the 1.23 million Shiba Inu holders who, on average, hold about 27.87 million tokens. Notably, these tokens would be worth $23,648 at $0.0008485.
Given the global nature of crypto investments, the impact of this rally would vary depending on where an investor lives. For someone earning minimum wage, this could be life-changing, but how long would it take to earn such an amount?
Shiba Inu Gains in Nigeria, India and Pakistan
Nigeria’s minimum wage, currently set at NGN 70,000 per month, translates to around $43.19. At this rate, it would take a Nigerian minimum wage worker about 45.6 years to earn NGN 38.3 million, which is the equivalent of $23,648.
This indicates that a significant gain from Shiba Inu could compress decades of earnings into one potential investment for a minimum wage earner in Africa’s most populated country.
In India, minimum wages vary depending on the region and sector, but average around INR 5,340 ($63.51) per month. At this rate, it would take about 31 years for a worker earning minimum wage in India to accumulate INR 1.98 million (equivalent to $23,648).
Meanwhile, according to local sources, Pakistan’s minimum wage sits at PKR 30,000 monthly, equivalent to $107.75. To accumulate PKR 6.58 million, which matches $23,648, a minimum wage earner would need to work for 18.2 years.
Turkey, Argentina and Brazil
Notably, the Turkish government recently increased the gross minimum wage to TRY 20,000 ($583) per month. With this rate, it would take about 3.3 years to earn TRY 810,182 ($23,648). For Turkish investors, Shiba Inu’s potential could compress a few years’ worth of labor into one financial windfall.
In Argentina, where inflation is rampant, the minimum wage is ARS 271,571 ($276) monthly. To earn ARS 23.64 million, which equals $23,648, a worker would need to toil for about 7.1 years.
Meanwhile, sources suggest Brazil’s minimum wage is BRL 1,412 ($248.13) per month. It would take a Brazilian minimum wage worker 7.2 years to accumulate BRL 123,072, equivalent to $23,648.