Investors holding 100 million tokens of Shiba Inu could see their holdings soar to $1 million if the coin’s value reaches $0.01. Currently, the broader crypto market is experiencing a downward trend, with prices hitting monthly lows. As a result, the global cryptocurrency market cap has dropped to $2.38 trillion, down from last month’s peak of $2.76 trillion.
Despite the market turbulence, Shiba Inu remains optimistic, with predictions of a price recovery circulating among its community. However, the likelihood of reaching audacious price targets remains uncertain. Nevertheless, investors holding at least 100 million SHIB, equivalent to 89,924 addresses, could potentially see their holdings reach $1 million at different price levels. However, those with exactly 100 million SHIB would need the coin’s price to decrease by three zeros.
Currently, the 100 million SHIB tokens held by this group of investors are worth $2,483 at a price of $0.00002483. If the price of Shiba Inu were to reach $0.01, their holdings would surge to $1 million.
While some market experts and crypto entities have projected a price target of $0.01 for Shiba Inu, there is no guarantee that it will be achieved. Factors such as token burns, positive developments in the ecosystem, and the overall bull market could contribute to Shiba Inu’s chances of reaching this price level. However, monumental burns and a surge in demand, similar to Ethereum founder Vitalik Buterin’s actions, would be necessary for such a significant price spike.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The opinions expressed are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses incurred.