Shiba Inu (SHIB) is showing recovery signs after facing a significant correction over the last week. The asset has rallied 9.5% in the daily charts and is up 172.1% over the previous month. Moreover, SHIB’s price has risen by 152.7% since March 2023. Nonetheless, the asset is still down by 20.8% in the weekly charts and 10.4% in the 14-day charts. Moreover, SHIB is down by 69% from its all-time high of $0.00008616, which it attained in October 2021.
Also Read: Shiba Inu: Can $1000 Investment in 2024 Make $1 Million in 2030?
The recent market rebound could be due to the Federal Reserve keeping interest rates unchanged despite inflation rising in February. However, SHIB fans and investors still pursue higher prices for the popular dog-themed cryptocurrency.
How much Shiba Inu (SHIB) do you need to be a millionaire if it hits $0.05?
To have one million dollars worth of Shiba Inu (SHIB) at $0.05 per coin, you will need 20,000,000 (20 million) tokens. The price of 20 million SHIB right now is about $535. If SHIB reaches $0.05, the portfolio’s value will rise by about 186816%.
However, the journey to $0.05 is no easy task. According to Changelly, Shiba Inu (SHIB) won’t breach the $0.05 level before 2050, more than 26 years from now. The platform anticipates SHIB to hit a maximum price of $0.0301 by 2050.
Also Read: Shiba Inu (SHIB) To Rally 650% to $0.00015: Predicts Analyst
Telegaon, on the other hand, is more bullish on SHIB. The platform predicts SHIB to hit $0.05 sometime between 2035 and 2040, about 11 to 16 years from now.
Nonetheless, there is a possibility that SHIB will hit the $0.05 target much sooner than predicted. SHIB’s massive supply is one of the most significant barriers to its price. However, the SHIB team is reportedly working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the team can drastically reduce the asset’s supply, we may hit the $0.05 target much sooner than predicted.
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