Here is the maximum that Shiba Inu must reach to turn 100 dollars into a million dollars. Date: April 29, 2
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SHIB worth 100 dollars to a million dollars if the price rises to historical levels.
Over the years, cryptocurrencies like Shiba Inu have established themselves as suitable investment vehicles for investors seeking to turn a small capital, such as 100 dollars, into valuable gains up to a million dollars. It is worth noting that Shiba Inu helped many investors achieve this milestone during the 2021 market cycle.
While it remains unclear whether SHIB can replicate this performance, this article estimated the growth rate necessary to turn a modest investment of 100 dollars into a million dollars.
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Recent performance of Shiba Inu
In a related context, Shiba Inu is trading at 0.00001385 USD after its price decreased by 0.98% in the past day. Despite this slight drop, Shiba Inu has maintained most of its gains from last week, with an increase of 10.31%.
After Shiba Inu maintained most of its gains, it ranked seventeenth in the global cryptocurrency market capitalization, unchanged from last week. Its market value at the time of publication was 8.15 billion USD.
Growth is needed to turn 100 dollars into a million dollars
With a capital of 100 USD, an investor can buy 7.22 SHIB tokens at a price of 0.00001385 USD. As of mid-April, the number of network addresses on the chain was around 325,000 that hold SHIB tokens worth at least 100 USD, according to IntoTheBlock data.
This portfolio of 7.22 million SHIB worth 100 dollars could reach a target of a million dollars if the price of SHIB rises to 0.1385 USD per token.
Achieving the million-dollar goal with an initial investment of 100 dollars requires SHIB's price to increase by 999,900% from its current value to 0.1385 USD. If SHIB achieves its target of 0.1385 USD, early investors who invested 100 dollars in SHIB at the current price would realize a return on investment of 999,900 dollars.
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Can the price of SHIB reach 0.1385 USD?
A price above 0.1385 USD exceeds most targets set for Shiba Inu, including the extremely ambitious one-cent target. Reaching this target would raise Shiba Inu's market capitalization to 81.61 trillion USD, assuming the circulating supply of Shiba Inu remains at 589.25 trillion tokens.
This high valuation exceeds the current market capitalization of major global assets such as gold, Bitcoin, and silver. With the current supply, it is unlikely that SHIB will reach its target of 0.1385 USD.
Therefore, a large portion of Shiba Inu tokens must be burned to enable SHIB to achieve the target of 0.1385 USD without raising its market value to 81.61 trillion USD.
In a hypothetical scenario where Shiba Inu's supply decreases to 10 trillion tokens and its price reaches 0.1385 USD, the market capitalization of Shiba Inu would rise to a realistic target of 1.38 trillion USD.
SHIB price forecast to 0.13 USD
Meanwhile, many analysts still believe that SHIB is capable of reaching its target of 0.1385 USD during its run. Earlier this year, The Crypto Basic estimated that the price of SHIB could rise to 0.13 USD if it repeated its run in 2021, rising by 884,400% from 0.00001520 USD - its price at the time of the report.
The marketing officer at Shiba Inu believes that it is possible for Shiba Inu's price to exceed 0.13 USD to reach higher targets like one dollar. The leading AI chatbot, ChatGPT, also expects Shiba Inu's price to approach its target of 0.13 USD by 2029, four years from now.
It is worth noting that the leading prediction platform, Telygau, has set a specific timeline for the date to achieve the target of 0.13 USD. According to Telygau, SHIB will reach the level of 0.13 USD between 2041 and 2049.
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