After a lackluster performance in 2023, Shiba Inu (SHIB) seems to be turning the tide for the better. The asset is among the best-performing cryptocurrencies over the last week, rallying by 227% in the weekly charts, 287.8% in the 14-day charts, and nearly 309% over the previous month. Moreover, the asset’s price has increased by 232.8% since March 2023. Nonetheless, SHIB has faced a 9.8% correction in the last 24 hours, reigniting fears of another price plummet.
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However, there is also a possibility that SHIB could hit a new all-time high as Bitcoin (BTC) inches closer to its 2021 peak. BTC’s latest upswing has trickled into other assets, leading to a market-wide rally.
How to be a millionaire when Shiba Inu (SHIB) hits $0.005?
SHIB’s 2020-2021 rally turned many early investors into multi-millionaires and, in some cases, even billionaires. While the asset was on a downtrend since its 2021 highs, the latest rally has reignited hopes of investors making it big with the popular meme-coin.
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If Shiba Inu (SHIB) hits $0.005, you will need 200,000,000 (200 million) tokens to have one million dollars worth. The price of 200 million SHIB right now is about $7342. If SHIB reaches $0.005, your portfolio will grow by a whopping 13,520.27%.
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However, the journey to $0.005 is no easy task. According to Changelly, SHIB could breach the $0.005 level sometime between 2033 and 2040, about 9-16 years from now. Telegaon also paints a similar picture for SHIB, predicting the asset to hit the $0.005 level sometime between 2035 and 2040.
However, the Shiba Inu (SHIB) team is working on a new burn mechanism, rumored to remove trillions of tokens yearly. In this scenario, SHIB could reach the $0.005 price level much sooner than anticipated.
