Shiba Inu investors could see their $1,000 investments skyrocket to substantial levels if SHIB ever claims a $1 price.
While the crypto market has already embarked on a rebound campaign, the losses of the past month have not been fully recovered. For instance,
Bitcoin (BTC)
is up 10.66% this month, as opposed to the 14.94% drop recorded in April.
Shiba Inu’s 27.16% decline last month suggests that it still has a long way to go before recouping all of April’s losses despite an 11.12% gain this month. Meanwhile, multiple market analysts have
identified
a Shiba Inu symmetrical triangle on the daily chart, projecting massive price gains when the breakout is completed.
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Worth of $1,000 at a SHIB Price of $1
Most of these targets have been in fractions of a cent, but some commentators have not shied away from predicting an
audacious $1 price
. While such a projection is near impossible, the prospect has indeed caught the attention of market participants.
Hypothetically, to present a clear idea of just how massive a rally to $1 could be, The Crypto Basic assessed its impact on a $1,000 investment in Shiba Inu today. Notably, committing $1,000 to SHIB at the current value of $0.00002489 will amass 40,176,777 (40.18 million) tokens.
The worth of these SHIB tokens would skyrocket to $40.18 million if
Shiba Inu
ever clinched a $1 price. For better context, a $1 investment in Shiba Inu at the current value would yield $40,176 and a $10 investment would bring in $401,767 if SHIB reached the $1 price.
Is a $1 Price Realistic for Shiba Inu?
This assessment presents a clear picture of the extent of the gains a rise to $1 would yield, further confirming that such a rally might not be possible in the near future. For context, a surge to $1 would lead to a $589 trillion market cap for Shiba Inu, making it the largest asset in the world by a large margin.
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While there isn’t enough money in the world to back up this valuation, crypto price prediction resource Telegaon has already projected a timeline for the $1 price target. According to an April
article
, analysts at Telegaon predicted that Shiba Inu could trade an average price of $0.89 and a maximum price of $1.06 in 2050, essentially 26 years from now.
However, this target seems rather farfetched and should not be taken as investment advice. Notably, in the short term, SHIB has continued to face intense resistance at the $0.000025 psychological price threshold, aligning with the upper Bollinger Band on the daily timeframe.
Shiba Inu 1D Chart
A break above the resistance at this Bollinger Band would grant the bulls enough strength to have a go at the Fibonacci 0.5 level, currently stationed at $0.00002739. Breaching this Fib. 0.5 point is pivotal in Shiba Inu’s journey toward the much-coveted $0.00003 psychological territory.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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