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Shiba Inu (SHIB) is one of the most popular cryptocurrencies on the market. This asset made a name for itself by turning many early investors into millionaires. From its launch in 2020 to reaching an all-time high in October 2021, SHIB’s price increased by millions of percent. However, the asset has fallen more than 71% from its 2021 peak.
Investors and fans are still hoping for success with Shiba Inu (SHIB), despite its price dropping significantly from all-time highs. If he invests $1000 in SHIB now, he will receive approximately 40,000,000 (40 million) tokens. According to Changelly, SHIB he could reach a maximum price of $0.0003759624 in 2030. When SHIB reaches his $0.0003759624, the value of the portfolio increases to approximately $15,000.
Also read: Top US networks mention Shiba Inu (SHIB) on TV
Meanwhile, Telegaon expects SHIB to reach a maximum price of $0.000712 in 2030. In this scenario, the value of your portfolio increases to $28,480.
If it reaches $0.0007, how much does Shiba Inu (SHIB) need to become a millionaire?
To hold $1 million worth of SHIB at $0.0007, you would need approximately 1,428,571,428.57 (1.42 billion) tokens. The current price of 1.42 billion SHIB is approximately $35,714.28. Therefore, if he invests $35,714.28 in 2024, he could become a Shiba Inu (SHIB) millionaire by 2030.
Also read: Shiba Inu: Top exchange records inflow of 6.84 trillion SHIB in 24 hours
Nevertheless, given that SHIB is witnessing a strong market performance, it could also help investors become millionaires sooner. Additionally, the project’s large supply has been one of the biggest barriers to SHIB’s price. Projects need to reduce supply to aim for higher prices.
However, the Shiba Inu (SHIB) team has revealed that it is working on a new burning mechanism that is rumored to burn trillions of tokens per year. If the team can reduce the supply of SHIB by trillions of dollars a year, the asset could reach highs sooner than expected.
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