Shiba Inu (SHIB) is one of the cryptocurrencies that has made many investors multi-millionaires. Although the popular meme coin has been on a downward trend after hitting all-time highs in October 2021, many are still hoping they can make millions in the next bull run. SHIB fans, commonly known as the SHIB Army, are still pursuing the “dime dream” and are determined to achieve this price as soon as possible.
Also Read: Shiba Inu: Three things that need to happen for SHIB to hit $0.01
However, becoming a SHIB millionaire requires investors to hold a certain number of tokens.
How to make $20 million when the Shiba Inu stock price dropped to $0.01?
If SHIB increased by $0.01 from the current price, it would represent a growth of approximately 115909%. To own $20 million worth of tokens at $0.01, an investor would need 2,000,000,000 (two billion) SHIB. The current price for 2 billion SHIBs is approximately $17,240. If the project can achieve its 1 cent goal, the return on investment (ROI) will be huge.
Still, the journey to $0.01 won’t be easy. In this process, investors need great patience and perseverance. According to Telegaon, between 2040 and 2050, that is, 16 to 26 years from now, the price of the Shiba Inu (SHIB) may reach $0.01.
Also Read: Shiba Inu (SHIB) Could 2X in December: Analyst Predictions
Furthermore, reaching $0.01 would require a significant reduction in circulating tokens. Shiba Inu (SHIB) currently has approximately 589 trillion circulating tokens. If SHIB reaches $0.01, the project’s market capitalization will be unrealistically large. However, the SHIB team said they are working on a new burning mechanism that is rumored to destroy trillions of tokens every year. If the new burning mechanism succeeds in eliminating trillions of SHIB tokens each year, it could reach the $0.01 goal faster.
Additionally, the project will need to witness an increase in demand. SHIB lead developer Shytoshi Kusama emphasized that burning alone will not drive up the price of the token. Burns would need to add high demand for the memecoin to see the price increase.
Information source: compiled from WATCHER by 0x Information.Copyright belongs to the author Paigambar Mohan Raj and may not be reproduced without permission.