Shiba Inu (SHIB) had a historic rally during the 2021 bull run. The asset’s price skyrocketed within months of its launch in August 2020. SHIB hit an all-time high of $0.00008616 in October 2021, turning many early investors into multi-millionaires. Investors with minimal capital reaped millions when Shiba Inu (SHIB) turned parabolic. However, the last few years have been unkind to SHIB. The asset has lost substantial luster, and many investors are sitting on losses. Let’s discuss if SHIB can still turn $1000 into more than $1 million.
Can Shiba Inu Still Make You a Millionaire?
If you buy $1000 worth of SHIB today, you will receive about 121 million coins. For 121 million SHIB to be worth $1 million, the price of each coin has to hit $0.00826. SHIB has to rally by nearly 100,000%, or by 1000x, for it to hit $0.00826 from current price levels. Although the required growth may seem significantly large, it is not something SHIB has not done in the past.
According to Telegaon analysts, Shiba Inu (SHIB) will not hit the $0.00826 mark anytime before 2050. The platform anticipates SHIB to trade at a potential maximum price of $0.0046 in 2050.
Changelly analysts are a lot more bullish on Shiba Inu (SHIB) than Telegaon. The platform anticipates SHIB to hit the $0.00826 mark sometime between 2033 and 2040. Changelly predicts SHIB to trade at a potential maximum price of $0.00119988 in 2033 and a potential high of $0.02359764 in 2040. We can assume that, by Changelly’s estimates, SHIB could hit the $0.00826 mark sometime in 2037, about 12 years from now.
Also Read: 500% to 1,000% Upside Target for Shiba Inu in 2026: Crypto Patel
Going by the above mentioned predictions, it is still possible to turn $1000 into $1 million with Shiba Inu (SHIB). However, it may take far longer than the 2020-2021 bull run.