Shiba Inu added an extra ‘zero’ on Friday as both the stock and cryptocurrency markets crashed due to the Silicon Valley bank crisis. SHIB is currently trading at $0.00000995 (five zeroes) and is down 8.6% in the 24-hour day trade. Bitcoin is at the $19,900 level and could head south further as the SVB fiasco could extend its wings across the markets.
Read here to know why Shiba Inu and the larger markets are crashing today.
Also Read: How Much ‘Percent’ Must SHIB Rise To Reach $0.01?
Now that Shiba Inu has added an extra ‘zero’, owning 1 million SHIB tokens just got cheaper than before.
A mere $10 investment in Shiba Inu adds 1,000,000 SHIB tokens to one’s portfolio. In case Shiba Inu reaches $0.01 someday in the future, the $10 could turn into $10,000. That’s an uptick and ROI of 100,000% on the $10 investment done today.
Also Read: How SHIB Made the Average Investor ‘Dream’ Of Making $1 Million
Also, a $100 investment into SHIB now could fetch investors 10 million tokens. Therefore, if SHIB reaches $0.01, the investment could balloon to $100,000. However, whether Shiba Inu will reach the 1 cent milestone in the future or not, only time will tell.
The last time investors could buy 1 million SHIB tokens for $10 was in November 2022. The dog-themed token had added a ‘zero’ similarly last year but clawed back to four ‘zeroes’ by the year’s end.
Shiba Inu Millionaire
The Shiba Inu ‘millionaire’ is considered through token accumulation and not by the ‘dollars’ earned. However, if the markets recover in the coming years and kick-start a bull run, the two might overlap, and eventually, the tokens could turn into dollars. That’s a long way off from today and might take years or decades to reach there.
Moreover, if Shibarium ‘burns’ trillions of tokens each year through transaction fees, reaching $0.01 could be closer than previously thought. We will have to wait and watch after shibarium is released to fully understand its burning capabilities.
Also Read: Shibarium To Burn 100 Trillion SHIB Each Year & Make Way for $0.01?
At press time, Shiba Inu was trading at $0.00000983 and was down 9.2% in the 24-hour day trade. SHIB is also down 88.50% from its all-time high of $0.00008616, which it reached in October 2021.