For investors looking to become multi-millionaires through Shiba Inu, a clearer breakdown of what is required to reach the goal makes it easier to attain.
Shiba Inu (SHIB) was among the biggest winners of the previous crypto bull market. Investors who trusted in the project’s mission achieved massive returns as the token broke into the list of top cryptocurrencies by market capitalization.
Though the price of SHIB has dropped significantly since those green moments in 2021, many crypto investors still hold the asset with hopes that it will one day return to its glory days.
Even more compelling, many investors still nurse the idea of becoming millionaires through SHIB and are still accumulating the asset while patiently waiting for a trend reversal.
The cryptocurrency market’s unpredictable nature means such a dream may be realized, albeit not immediately. At the same time, crunching the numbers shows just how much Shiba Inu an investor needs to make $10 million or $20 million when the token gets to different price milestones.
How To Make $10 Million If Shiba Inu Hits $0.001 or $0.01
The best way to make $10 million when SHIB reaches the stated price levels is to accumulate the right amount at current prices.
For instance, if you wish to have $10 million when SHIB gets to $0.001, that means you need to hold 10 billion SHIB tokens.
At its current market price of $0.000008312, you can buy 10 billion SHIB tokens for $83,210. However, one may also choose to dollar cost average their purchases to lower their entry price.
Meanwhile, fewer tokens are needed to make $10 million when Shiba Inu hits $0.01, as the price would be significantly higher. Hence, you must own 1 billion SHIB tokens to profit from such a meteoric rise. At its current market price, investors can acquire that amount of SHIB for $8,321.
How To Make $20 Million If Shiba Inu Hits $0.001 or $0.01
Raising the profit target evidently requires increasing the amount of SHIB you own. For instance, if your target is $20 million when SHIB hits $0.001, you will need to hold 20 billion SHIB tokens.
At current prices, it would cost a whopping $166,240 to acquire the amount of SHIB required to make $20 million when the price hit $0.001.
On the other hand, the target becomes less if you increase the price target to $0.01. This means you only need to own 2 billion tokens to make $20 million when SHIB had only two zeros to eliminate. At current prices, you can acquire 2 billion SHIB tokens for $16,624
How Easily Can SHIB Reach These Price Levels?
It will take a combination of several factors being just right for SHIB to attain the price levels that this article speculates on. For one thing, the token’s large supply of around 589 trillion tokens means that its market cap would be worth several trillions of dollars if it gets to such price levels.
Given that such an outcome is utterly unrealistic, the closest path to achieving the price levels would be significantly lowering the supply of SHIB tokens. The blockchain project currently achieves this deflation through periodic burns.
However, much more burning would be needed for SHIB to reach investors’ dreams of eliminating enough zeros to get to the $0.01 and $0.001 range. Whether or not this is attainable remains to be seen.