Shiba Inu is a meme coin that investors have used for huge profits for some time now. Despite its recent struggles, it still remains a fan-favorite cryptocurrency and the first option for new investors. However, can you become a millionaire by holding 100 Shiba Inu?
Investing in 100 of a crypto coin is a bold move for early investors. However, some hope that with a potential bullish state coming for SHIB, it may be a good decision.
Can You Become a Millionaire by Holding 100 Shiba Inu (SHIB)?
Shiba Inu is currently trading at $0.000006765, according to CoinMarketCap. Given the current popularity of the project, its expanding ecosystem, and the presence of a large supportive community, there is a possibility that the project could reach a price of approximately $0.00002 by the end of 2023 – a 150% increase from current levels. Unfortunately, holding 100 SHIB right now does not guarantee you to become a millionaire.
For your investment to reach a value of at least one million dollars, the price would need to increase to approximately $0.069 per token. This would result in a market capitalization of SHIB reaching around $40 trillion, which is more than 40 times the total value of the entire crypto industry at present. Hence, why it is currently unrealistic for many meme coins, including SHIB, to make you a millionaire.