dark
Hand-Picked Top-Read Stories
Trending Tags
2 minute read

Shiba Inu: ChatGPT Explains If SHIB Can Create Millionaires at $0.0004 or $0.004?

Vignesh Karunanidhi
Vignesh Karunanidhi
February 5, 2024
With Shiba Inu (SHIB) recently erasing one zero from its price, a top market analyst has uncovered the key target and support levels to watch out for going forward. Shiba Inu price erased one zero to trade at a 24-hour high of $0.00001462. Though the token had shown signs of an imminent rally for weeks, the current market momentum pushed its price to the highest level in more than 52 weeks. Judging by the current outlook, market analyst SHIB KNIGHT affirmed that Shiba Inu has surpassed all of his previous targets. To showcase the confidence in the current uptrend, SHIB KNIGHT dropped new targets and support levels to watch. Shiba Inu to $0.00001668? Per an accompanying price chart, the 3 targets and support levels unveiled are relatively bullish, as none of the latter targets shows a slump below the $0.00001 level. According to $SHIB KNIGHT, the current momentum might push Shiba Inu to $0.00001466, a price point that will slightly outpace the 52-week high. On a more promising basis, the analyst foresees SHIB soaring to $0.00001545, a level that is about 9.886% from the current level. SHIB KNIGHT is also optimistic Shiba Inu could rally as high as $0.00001668 and even beyond, per earlier projections. Though the potential timeline to achieve this feat was not highlighted, the projections have set the community on edge with pent-up anticipation of what to watch out for. Cautionary SHIB Note Amid the bullish targets, SHIB KNIGHT left room for unforeseen circumstances that might trigger a reversal in Shiba Inu’s uptrend. At the time of writing, Shiba Inu has maintained a 24-hour growth of 13.06%, taking its price and market cap to $0.00001409 and $8,285,705,642 respectively. Exactly $2,271,151,442 SHIB has been traded within the same time span. There are no guarantees that the market would not record a correction. Riding on this, SHIB KNIGHT pegged the first support level at $0.00001343 with a subsequent target of $0.00001306 if the selloffs persist. To cap his bullish disposition, the analyst believes the support zone at $0.00001258 is a formidable one for SHIB, a point at which another trend reversal might be recorded.

Shiba Inu (SHIB) has fallen below the $0.000009 level amid wider crypto market volatility. This has also sparked debate around the token’s potential to create millionaires if it achieves ambitious price targets like $0.0004 or even $0.004.

AI chatbots like ChatGPT have thrown their hats in the ring, outlining how much investors would need to commit today to become millionaires should SHIB realize triple- or quadruple-digit percentage gains.

While uncertain market conditions persist, SHIB continues to attract investor interest due to its history of explosive gains. After all, turning a $12 investment into $1 million seemed unfathomable before SHIB’s meteoric rise in 2021.

Also read: Ripple: XRP Could Surge to $1.40, But There’s A Catch

However, replicating such enormous returns requires equally sizable rallies from today’s prices near $0.000008972. Specifically, Shiba Inu would need to climb over 4,000% to reach $0.0004 or surge over 40,000% to hit $0.004.

With the debate heating up, we asked AI chatbot ChatGPT whether SHIB hitting either target could make millionaires akin to those who bet on the meme coin early.

ChatGPT weighs in on making Shiba Inu millionaires

ChatGPT contended that more substantial investments would be required. The AI points out that a $100 purchase at the current price would fall significantly short, even if SHIB were to increase over 40 times to $0.0004.

This hypothetical rally would result in a $100 investment turning into $4,300, which may not necessarily lead to becoming a millionaire. Additionally, a 430-fold increase to $0.004 would only yield $43,000 from a $100 investment, as per Bard’s calculations.

Also read: Cryptocurrency: 3 Altcoins That Could Outshine Bitcoin in February

ChatGPT provided optimistic projections using a $1,000 buy-in. That would appreciate to $43,000 at $0.0004 or $435,000 at $0.004—again missing the million-dollar mark.

However, it is essential to emphasize that the projections made by AI chatbots should not be considered investment advice. The likelihood of Shiba Inu reaching either of these price targets remains highly uncertain. This exercise primarily demonstrates that achieving substantial wealth through hypothetical price spikes involves taking significant initial risks and relying on a fair amount of luck.

Tweet
Share
Share
Share