Since February 2023, Shiba Inu (SHIB), a popular dog-themed cryptocurrency, has been experiencing a decline in its value. Despite the overall recovery in the market, SHIB has been struggling to surpass the resistance level at $0.000008. Nevertheless, the lackluster performance of the project hasn’t deterred investors from aiming to reduce the number of decimal zeros in its price.
If Shiba Inu (SHIB) were to remove two zeros from its current price, it would result in an impressive growth of 9900%. For instance, if an investor were to buy $1000 worth of SHIB at the present prices, they would receive approximately 128,205,128 tokens. Considering SHIB’s potential rally of 9900%, the same investment would then be valued at around $100,000.
Shiba Inu’s Two Zeros Removal: How Many Tokens to Reach Millionaire Status?
If SHIB were to remove two zeros from its current price, $1 million would be equivalent to approximately 1,282,051,282 tokens. Presently, these tokens are valued at around $10,000. Hence, an investor with just $10,000 could potentially become a millionaire with SHIB, provided the project successfully eliminates two zeros from its price.
However, achieving this reduction in price would require some significant efforts from Shiba Inu (SHIB). As mentioned earlier, the project has experienced notable gains of around 9900% in the past, making the possibility of such a change feasible, though not without challenges. To accomplish this, SHIB must generate a substantial increase in demand among investors. The upcoming release of its blockchain, Shibarium, could contribute to expanding the token’s use cases, thereby driving up demand.
Moreover, SHIB would also need to significantly decrease the circulating supply of its tokens. There are speculations about Shibarium introducing a new burn mechanism that might result in the monthly reduction of trillions of tokens. However, these burns would only have a significant impact on the asset’s price if there is substantial demand.
As of the current time, Shiba Inu (SHIB) is trading at $0.00000780, experiencing a decline of 0.9% in the last 24 hours.