As the experts predict a resurgence in Shiba Inu’s all-time high (ATH) this season, here is the quantity of SHIB you would need to possess in order to see a return of $1 million if the forecast comes to fruition.
There are investors who aspire to achieve millionaire status in USD by investing in digital assets such as Shiba Inu (SHIB). However, the current market conditions are not favorable for SHIB and other tokens due to the ongoing downturn across the broader market.
According to data from CoinMarketCap, SHIB is currently trading at $0.00002210, reflecting a daily decrease of 1.26% and a weekly decline of 13.8%. At its current price, SHIB has dropped by 75% from its ATH of $0.00008845 reached on October 28, 2021.
Despite the downward trend, numerous cryptocurrency experts are optimistic about Shiba Inu’s potential for a recovery and the possibility of reclaiming its ATH price. Javon Marks is among the leading analysts who share this positive outlook.
Calculating the Amount of SHIB Required to Generate $1M If Shiba Inu Hits ATH
With that being said, we have calculated the amount of Shiba Inu you would need to hold in order to achieve a return of $1 million if SHIB manages to regain its previous ATH.
In order to make $1 million when Shiba Inu reaches its ATH price of $0.00008845, an investor would need to hold 11,305,822,498 (11.3 billion) SHIB. The silver lining of the recent market downturn is that these tokens can be acquired at a discounted rate.
Acquiring 11,305,822,498.586 SHIB tokens at the current price of $0.00002210 would necessitate an initial investment of $249,858. The potential return on investment (ROI) is an impressive 300.2%.
Can Shiba Inu Regain Its ATH?
Numerous experts are projecting that Shiba Inu will not only reclaim but surpass its previous all-time high in the current bull cycle. The burning question remains whether SHIB can achieve this significant milestone.
Remarkably, the community remains steadfast in their belief in Shiba Inu’s capabilities, asserting that SHIB has the potential to easily surpass its previous ATH in the current cycle. This confidence is derived from Shiba Inu’s history of delivering substantial gains, as evidenced in 2021.
Additionally, community members are optimistic about Shiba Inu ecosystem projects such as Shibarium and the upcoming play-to-earn version of the Shiba Eternity game, which could contribute to SHIB reclaiming its ATH price.
Moreover, the impact of the ongoing burn campaign on SHIB’s price cannot be underestimated. Notably, the burn campaign has gained momentum recently, with the community incinerating over 232 million SHIB in the past day.
While it is encouraging that the community maintains confidence in SHIB’s ability to reclaim its previous ATH, it is important to acknowledge the unpredictable nature of the cryptocurrency market. Therefore, it remains uncertain whether Shiba Inu will reach this price point.
Disclaimer: This content is intended for informational purposes only and should not be construed as financial advice. The opinions expressed in this article may be the author’s own and do not necessarily reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.