Shiba Inu (SHIB) is among the most successful cryptocurrency projects. The asset’s price has rallied by many million percent since its launch in August 2020. Early investors made massive returns with minimal investments. The asset’s reputation as a “millionaire-maker” was solidified in 2021 after many retail investors became overnight millionaires.
Let’s discuss if the popular cryptocurrency can redo its incredible run.
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Can $1000 Worth Of Shiba Inu Become $1 Million By 2032?
If you purchase $1000 worth of SHIB today, you will receive about 61,188,312.14 (61.18 million) coins. For 61.18 million SHIB to be worth $1 million, the price of each coin has to reach $0.01635. The asset has to rally by 99,961.2% to reach this target.
While the required rally may seem significantly large, it is not something Shiba Inu (SHIB) has not done before. The asset’s price has rallied by much higher percentage points than 99,961.2%.
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Can The Asset Hit $0.01635 By 2032?
According to Telegaon, SHIB will hit the $0.01635 target sometime between 2035 and 2040. The platform anticipates the asset to hit a maximum price of $0.089 in 2040. We may assume that SHIB will hit $0.01635 sometime in 2036, about 11 years from now.
Changelly also presents a similar outlook for Shiba Inu (SHIB). The platform anticipates the asset to hit the $0.01635 target sometime between 2033 and 2040.
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There is a possibility that SHIB will hit the $0.01635 target sooner than anticipated. One of the most significant catalysts for SHIB’s incredible 2021 rally was Vitalik Buterin’s token burn. The Ethereum (ETH) co-founder received half of SHIB’s supply upon launch. Buterin decided to burn 90% of the tokens he received. His actions led to a significant rally for the asset. If the SHIB team can undertake another big burn, we could hit the $0.01635 target sooner than predicted.