Shiba Inu has rallied 4% in the last 24 hours, making it the third-best-performing crypto among the top 100 projects. SHIB is trailing Near Protocol (NEAR) with 5.8% gains and Sui (SUI) with 5.3% gains in the same time frame. However, despite the recent rally, SHIB is still down 16% over the previous week.
SHIB’s latest rally can be attributed to new developments on the Shibarium network. The project’s layer-2 network had to be paused due to high traffic, leading to technical difficulties. However, lead developer Shytoshi Kusama revealed yesterday that the network has been enhanced and is “ready” to go live. Moreover, Kusama said that additional validators would go live today, giving users more options to stake their BONE tokens.
The Shiba Inu (SHIB) team also released the “Genesis of the Shiba State” paper. This document encompasses every aspect of the SHIB project. However, the current rally will be shortlived as the larger crypto market is still in a slump, and SHIB might see another correction soon.
How many tokens are needed to be a Shiba Inu millionaire?
Despite the gains made in the last 24 hours, SHIB is still on a bearish trajectory in the big picture. The lower prices provide a good opportunity for new investors to buy into the asset.
An investor can purchase 1 million SHIB tokens for a mere $8.32, becoming a SHIB millionaire. And with $832, an investor can purchase 100 million SHIB tokens. If Shiba Inu (SHIB) were to reach its all-time high of $0.00008616, the $8.32 investment would turn into $86.16, while the $832 investment would turn into $8616, a profit of about 935%. At press time, SHIB was trading at $0.00000832, down by 0.3% in the last hour.