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The Shiba Inu (SHIB) network has been trying to get out of a rut and move on to the next level. The second biggest meme coin in the cryptocurrency market witnessed a notable surge of nearly 4% over the past 24 hours.
The asset went from a low of $0.0000135 to a high of $0.0000142. This comes after a 19% drop in Shiba Inu prices throughout the past 30 days.
Also Read: Bitcoin: Man Could Have Made $150 Million With Investment of $50,000
Market Sentiment and Whale Activity
While the latest uptick isn’t much, several have considered the meme coin’s downtrend a good buying opportunity. For instance, data revealed that whales in the Shiba Inu market have pocketed 6 trillion tokens and more over the past 30 days.
Amidst this, the market has been eagerly waiting for SHIB to hit the much-awaited $0.01 or 1 cent mark. Reaching this level might be more challenging than expected, but it is certainly not impossible.
Investment Required to Reach $1 Billion
Currently, $100 billion would be equivalent to $1 billion if Shiba Inu reached $0.01. At the present pricing, you can buy 100 billion tokens for $1.346 million. To become a billionaire, an investor will have to shell out more than a million.
Also Read: Shiba Inu: AI Sets SHIB Price for August 31, 2024
When Will Shiba Inu Hit the 1 Cent Mark?
Data from Telegaon reveals that reaching the 1-cent mark could take some time. The meme coin is expected to hit this milestone between 2035 and 2040.
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This requires immense patience from investors. To reap all the benefits of Shiba Inu’s ascent to 1 cent, investors must hold on to their cryptocurrency for quite some time. Only time will tell how the situation will evolve.
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