Shiba Inu has sustained its rally for three consecutive days, eliciting speculations of an impressive recovery, but how much would you need to make $1M if SHIB hits $0.0001?
Shiba Inu (SHIB) has recently experienced a remarkable surge, surging by over 16% in the last three days. This impressive rally has garnered the attention of investors seeking to capitalize on the momentum.
However, amid forecasts suggesting a price target of $0.0001, there arises a question: what quantity of SHIB can rake in $1 million if Shiba Inu achieves the targeted price?
How Much Do You Need?
An investor would need to hold 10 billion SHIB tokens to sit on a $1 million investment if Shiba Inu ever rallies to a price of $0.0001. SHIB is currently changing hands at $0.00000950. At the present value, investors could procure 10 billion tokens at $95,000.
Essentially, at current prices, investors must commit $95,000 to rake in $1 million should SHIB claim $0.0001. This would represent a 952% increase in investment and a return on investment (ROI) valued at $905,000.
Indeed, this scenario is entirely hypothetical, assuming SHIB’s future price reaches $0.0001, but it’s crucial to note that such an outcome is not guaranteed. Multiple positive and negative factors could significantly impact SHIB’s price movement.
SHIB at $0.0001
On the positive side, SHIB could benefit from the ongoing development of its ecosystem, ShibaSwap 2.0, SHI stablecoin, Shibarium SSI, and Shibarium, a layer-2 blockchain network. These projects could augment the utility and demand for SHIB, thereby contributing to its growth.
Another factor that could boost SHIB’s price is an increased burn rate. Projects like Shibarium could help bolster the burn rate and reduce Shiba Inu’s extensive supply.
Adversely, SHIB might encounter selling pressure from profit-taking investors who opt to cash out following the recent rally. Moreover, the overall sentiment prevailing in the crypto market can also impact SHIB’s performance.
External events, such as regulatory actions, security breaches, or implosions, can trigger these unfavorable market-wide sentiments. In a bearish market scenario, SHIB may experience a loss of momentum and downward pressure, influencing its performance.
Meanwhile, the asset has sustained the ongoing rally at the time of reporting. Shiba Inu is now the biggest gainer among the top 100 assets over the past 24 hours. Interestingly, Bone ShibaSwap, another Shiba Inu ecosystem token, is the second largest gainer.
Despite the rally, it is essential to note that Shiba Inu attaining $0.0001 is not guaranteed, as such a price target requires a substantial rally of 952%. Consequently, investors must consider their risk tolerance and consult certified financial advisors before making any investment.