Investors who got in early on Shiba Inu (SHIB) witnessed substantial profits, with some making millions of dollars. Those who chose to sell their holdings early often express regret and wish they had held onto them for a longer period. Starting from its inception in August 2020 and peaking at $0.00008616, SHIB’s price experienced a staggering surge of millions of percent.
Despite reaching highs in 2021, the token has been on a downward trend. Nevertheless, numerous Shiba Inu investors and analysts are optimistic about the asset gaining momentum once again in 2024.
Shiba Inu Millionaire Blueprint
At the $0.001 price point, an investor would require 1,000,000,000 (1 billion) SHIB tokens to achieve a portfolio worth $1 million. The current cost of 1 billion SHIB is approximately $8,220. If SHIB were to reach $0.001, it would signify a growth of around 12,000%. Comparatively, since its inception, SHIB has exhibited growth far exceeding the 12,000% mark. Thus, such a price surge is not unprecedented for the project. The pivotal question now revolves around when SHIB might attain the $0.001 milestone.
According to Changelly, the projection is that SHIB won’t hit $0.001 until at least 2032. Telegaon’s analysis suggests a timeframe between 2030 and 2040 for SHIB to potentially touch $0.001. Consequently, investors might need to exercise patience as it could take several years for the popular memecoin to reach its target.
Additionally, achieving the $0.001 target necessitates Shiba Inu (SHIB) to reduce its circulating supply. Currently, the project has around 589 trillion tokens in circulation. Attaining a price of $0.001 per coin would result in an exceedingly large market cap. Nonetheless, the SHIB team has indicated their efforts toward implementing a new burn mechanism. Rumors suggest that the new burn portal could eliminate trillions of SHIB annually, potentially accelerating the timeline for SHIB to reach its $0.001 objective sooner than initially expected.