Shiba Inu has long been known as one of the most popular cryptocurrency tokens to ever exist. The token has charted its unique price path and continues to tempt investors into exploring its full potential. The SHIB ecosystem has also left no stone unturned in adding new functionalities that can hook investors’ attention for the long haul. Keeping the popularity quotient of SHIB in mind, here’s how many SHIB tokens an investor may need to earn profits worth $50K and $100K.
Also Read: Solana Daily Wallet Count Spikes: How High Can SOL Trade This Week?
Shiba Inu: Investor Stats to Earn Lucrative Profits
SHIB’s 2021 price rally holds a memorable phase in the history of the crypto realm. In 2021, the token had spiked to $0.00008616 and given birth to innumerable millionaires. The price spike still holds a special place in its investors’ hearts as they continue to wait for SHIB to show its potential again.
Considering that SHIB spikes 10x ($0.000179) soon, an average investor will be required to hold nearly 279,329,608 tokens to claim a $50K profit margin. This would require an investor to spend nearly $5000 to later bask in a $50,000 profit pool.
An investor will be required to hold nearly 55,865,921 if SHIB spikes by 50x soon. By doing so, he can stand in line to claim profits worth $100K by investing a modest $1000 in the process.
Shiba Inu: Is It Profitable To Buy SHIB?
The technical platforms have now started to disseminate information on whether Shiba Inu can be a good choice for investors in the long run. To predict such aspects, a technical platform first assesses the number of good or profitable days that the token has had in the past.
According to CoinCodex, Shiba Inu has noted nearly 57% green trending days. This makes it a fitting choice for investment purposes.
Also Read: Cryptocurrency: 3 Meme Coins Set To Spike By 222%-224% In July
“Over the last 30 days, Shiba Inu had 17/30 (57%) green days. According to our historical data, it is currently not profitable to invest in Shiba Inu. The price of Shiba Inu increased by 125.92% in the last year, while the coin’s 3-year performance is 170.18%.
“Based on multiple technical and quantitative indicators, the current forecast for Shiba Inu in 2024 is bearish. This could be an indication that Shiba Inu is a bad buy in 2024. However, it’s important to consider both technical factors (price history). And fundamental factors (on-chain activity and development) before making the decision to buy Shiba Inu or not