Many early investors have become multimillionaires or even billionaires because to Shiba Inu (SHIB). Many new players, though, think they could have missed the boat with SHIB. In 2023, SHIB and other memecoins—like Dogecoin (DOGE)—have become less prominent. SHIB’s price has not increased significantly this year, despite the company launching a big layer-2 network earlier. While other cryptocurrencies, including Bitcoin (BTC) and Solana (SOL), have increased by over 100% and 500%, respectively, since January, SHIB has only increased by a pitiful 1.4%.
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Fans and investors of Shiba Inu (SHIB) are still chasing the “one-cent dream” in spite of the dismal result in 2023. New holders may be able to make millions of dollars if SHIB hits $0.01 in value.
At $0.01, how much Shiba Inu (SHIB) is required to reach the millionaire status?
To have $1 million worth of SHIB tokens at $0.01, an investor would need 100,000,000 (100 million) of them. Currently, 100 million SHIB tokens buy approximately $822. Assuming success, the portfolio would increase by an astounding 121,554%.
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But how will Shiba Inu (SHIB) reach the $0.01 price level is the question. First, the project’s supply will have to be decreased. Approximately 589 trillion tokens are in circulation right now on SHIB. Achieving $0.01 would result in an unreasonably high market capitalization. A burn equivalent to Vitalik Buterin’s SHIB burn in 2021 is needed for the project. After being given half of the supply, Buterin chose to burn 90% of it. The 2021 SHIB rally was greatly influenced by Buterin’s efforts.
In addition, there will be a need for the initiative to raise demand. Adoption of SHIB may increase with the addition of more real-world use cases from the Shibarium network. Demand may rise and supply may decline, allowing SHIB to achieve its $0.01 target.