Jun 5, 2020 - 4 hours read

Can You Still Become a Millionaire with Shiba Inu Coin?

John Cristóbal 12.6k

Via Medium

Is it still possible to become a millionaire investing in Shiba Inu? Here's how that can happen. Read this article to find out more.

Photo by Ferhat Deniz Fors on Unsplash

Shiba Inu coin has been making waves in the realm of cryptocurrency. What started as a meme coin is now morphing into a legitimately viable play for investors.

The price run-up back in October 2021, where Shiba Inu reached an all-time high of $0.000086, minted many millionaires. However, the coin has since pulled back, trading at current levels of $0.000035 per coin. The question no doubt everyone is asking is if there will be another tremendous spike in price? The short answer is — Perhaps.

Notwithstanding, the next big question is, if we don’t see another astronomical run-up, is it still possible that Shiba Inu holders can become millionaires, or has that train left the station? I believe, yes, Shiba Inu holders can still become millionaires. There are, in fact, a couple of scenarios where that can happen. They are as follows:

Scenario #1

The key to turning your investment into a million dollars is to first pay close attention to the key levels of support, considering those as ideal price points to purchase.

Current support levels for Shiba Inu are around $0.000035. For those looking to accumulate or add to their position, historical price charts have previously indicated that in some instances, the price has bounced back up when Shiba Inu has traded around this level. The next key level would be around $0.000027 per coin should it go lower.

Hypothetically, let’s say you buy-in at the price of $0.000035 per coin with an investment of $10,000.00.

Investment Cash $10,000.00 / $0.000035 Per Coin = 285.7MM Coins

Now, to get to a $1 million profit with your current position, the coin would have to reach a price of $0.0037 based on your accumulated position. Percentage-wise, the coin’s price would have to increase by 99.0% from your purchase price. Considering what the price of Shiba Inu did in October, soaring over 700%, a 99.0% uptick seems possible.

Projected Price: $0.0037 - Purchase Price: $0.000035 = $0.003665

Gain: $0.003665 * Position: 285.7MM Coins = $1.047MM

For those with $10,000.00 cash on hand to invest in Shiba Inu, getting in on these levels of $0.000035 per coin and holding to a price of $0.0037 would be one way to hit $1 million on your investment.

Understandably, $10,000.00 is a sizable investment for many, and there’s considerable risk involved; however, as previously demonstrated in the above, the reward could potentially net you seven figures.

Scenario #2

Now, for those who don’t have large amounts of money to invest in one shot, how about investing in smaller increments?

Let’s say you want to invest a total of at least $3,000.00 in the Shiba Inu coin. However, you put in $500.00 to start, buying at $0.000035.

Investment Cash: $500.00 / $0.000035 Per Coin = 14.285MM Coins

You routinely purchase $500.00 worth of Shiba Inu each time it retraces those levels of $0.000035 doing this for three months. Total investment is $1,500.00.

Your aggregate position at that time would be 42.85MM coins (this assumes you’ve bought at $0.000035 throughout the three-month period where Shiba Inu retested these levels at least three times).

After three months, the price goes lower to $0.000027 per coin. Although the coin price dropped, the same $500.00 investment allows you to accumulate more coins at discounted prices.

Investment Cash: $500.00 / $0.000027 Per Coin = 18.518MM Coins

Hypothetically speaking, let’s say the coin doesn’t go any lower and trades at or above $0.000027. You decide it’s prudent to continue investing for three more months.

At the price level of $0.000027 after three months (this assumes the price of Shiba Inu retraces these levels at least three times during this period), you have a position of 55.55MM coins. The total investment here is $1,500.00.

In six months, you have a total of 98.4MM Shiba Inu coins. Essentially, you have lowered your cost basis, taking advantage of discounted prices, employing a dollar-cost averaging strategy. DCA (dollar-cost averaging) is a way to reduce the impact of price volatility on the overall purchase. Let’s take a look at the figures:

Total Bought: 42.85MM Coins at $0.000035

Total Bought: 55.55MM Coins at $0.000027

Aggregate Bought: 98.4MM Coins at Avg. Purchase Price $0.000031

So, let’s say within a year, the price of Shiba Inu jumps to $0.0037 per coin. How much would you make with your average purchase price of $0.000031?

Let’s check it out!

Projected price: $0.0037 - Avg. Purchase Price: $0.000031 = $0.003669

Gain: $0.003669 * Position: 98.4MM Coins = $361,000.00

Not quite a million, but still a pretty good return on your investment! So, with your position of 98.4MM Shiba Inu coins, how high would the price have to be to hit $1 million on your investment?

The target price would have to be $0.0109.

Projected Price: $0.0109 - Avg. Purchase Price: $0.000031 = $0.010869

Gain: $0.010869 * Position: 98.4MM Coins = $1.069MM

For everyone thinking that Shiba Inu could never hit the target prices mentioned and think it’s ridiculous for the coin to go to over $0.01 — I can see why people would run with that line of thought. The skeptics base that notion on the fact that the coin’s supply stands at over 589 trillion and that it’s impossible to hit the specified price point of $0.01 according to mathematical calculations.

However, the skeptics are deriving their calculations from the standpoint that the supply will remain the same at 589 trillion coins. While enormously high, Shiba Inu’s token supply can be burned — a process where coins are sent to unusable wallets and effectively taken out of circulation, reducing the overall pool.

According to a recent article posted in FX Empire, Shiba Inu is expected to undergo a massive burn in the upcoming weeks. By systematically reducing the available supply of Shiba Inu tokens, demand would presumably increase, causing prices to go higher.

In conjunction with token burns, Shiba Inu is now more widely adopted and tradable on nearly all significant cryptocurrency exchanges — Robinhood Securities pending.

Additionally, the recent announcements of NDA agreements signed with a top studio to develop a Metaverse game, coupled with the addition of top-tier talent from Activision, William David Volk joining Shiba Inu to spearhead the development, only further fuels the positive sentiment among investors. Currently, there are many more developments in the works for Shiba Inu (aside from those previously mentioned) that will ultimately improve the prospects of sending the cryptocurrency higher.

Closing Thoughts

Shiba Inu presents a significant opportunity for risk-tolerant investors to get in at attractive price points. The scenarios above that show examples of how to potentially get $1 million investing in Shiba Inu, I believe, are possible. Still, it is ultimately up to investors to do the research, and draw their own conclusions as it pertains to their investment choices.

Legal Disclaimer

This article is strictly meant for informational purposes only. The piece is not intended to constitute investment advice. All opinions expressed are solely based on personal research.

There are risks when investing, even loss of principal. Any security or other type of investment’s past performance is not a guarantee of future investment performance.

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