Shiba Inu investors aiming to reach $1 million, $5 million, or even $10 million through small investments will have to wait for substantial price increases to reach $0.01.
Recently, Shiba Inu has been facing challenges, dropping below the $0.00002 price range due to a general market decline. Currently, the token is struggling to maintain its position above $0.000018 after slipping below the $0.000019 threshold.
Despite this downward trend, market experts remain positive about SHIB’s future. They point to the token’s Relative Strength Index (RSI) and Commodity Channel Index (CCI) hitting oversold levels, the lowest of the year. Analysts interpret these oversold levels as a potential signal for a reversal.
This decline has prompted many investors to view Shiba Inu’s discounted prices as an opportunity to purchase the token at a lower cost. Consequently, various types of investors, including whales, sharks, and small addresses, have been accumulating significant amounts of Shiba Inu. The continued accumulation by different investor groups indicates a strong belief in Shiba Inu’s potential.
Data from market analysis tool Santiment confirms that small investors holding between 10,000 and 1,000,000 SHIB have been increasing their holdings, while whales with at least 1 billion tokens are also joining the buying trend.
As speculation grows around potential returns, The Crypto Basic recently examined how much Shiba Inu would need to increase in value for investors holding 100 million tokens to achieve millionaire status.
At the current price of $0.00001799, 100 million tokens are valued at $1,799. To reach $1 million, the token price would need to rise significantly towards $0.01. Shiba Inu enthusiast Lucie expressed confidence in SHIB hitting $0.01 in the future.
To reach $5 million, each token would need to be valued at $0.05, a price significantly higher than the current trading price. Some analysts, including Jason Williams and Yazan, have projected SHIB to reach this level in the future.
The most ambitious target of $10 million for 100 million Shiba Inu tokens would require the price to reach $0.10, representing a substantial increase from the current price. While a specific timeline for this milestone is uncertain, some projections suggest it could be achieved by 2029.
Reaching any of these price targets would require significant gains and a substantial leap from the current price. However, given the volatility of cryptocurrencies, there is speculation surrounding the possibilities. Investors are advised to conduct thorough research before making any investment decisions.