Shiba Inu is currently trading at $0.000009550 and is mostly moving on the back foot this year. The dog-themed token made early investors taste the success of richness by making their portfolios balloon to over a million dollars. Investors who poured a mere $650 into SHIB during its inception made more than $1 million in profits. Read here to know how a warehouse manager with a medium-income makes $1 million with Shiba Inu.
Also Read: Shiba Inu: When Will SHIB Reach $0.0001?
Shiba Inu: Will SHIB Make You a Millionaire Now?
Shiba Inu can make you a millionaire now but the path to achieve the target remains narrow. For SHIB to turn its investors into millionaires again, it needs to do two things in a row. The two things that it needs to achieve aren’t easy and remain to be a herculean task. The cryptocurrency market is no longer a friendly playing field as it remains firmly under the bearish grips.
So what two things need to happen for SHIB to make you a millionaire? Well, let’s find out. Below are the two developments that Shiba Inu must deliver to reach the $0.01 milestone.
Also Read: If Shiba Inu Burns 100 Trillion Tokens a Year, Will It Reach $0.01?
- Bigger Utility & Adoption
Shiba Inu currently has only 1.3 million holders despite nearing to complete four years in the market. Considering its name and fame worldwide, the number of holders needs to be tenfold from its current number of holders. SHIB needs to attract another batch of new and first-time investors into its fold to attract bullish sentiments. If more investors begin to adopt SHIB and lead to use cases, its price could scale up sustainably in the indices.
Also Read: SHIB Turns $3,600 Into $19 Million in 3 Years
- Dramatically Reduce Circulating Supply
Shiba Inu’s biggest problem is its circulating supply of 549 trillion tokens. There are way too many tokens in circulation that are stunting SHIB’s price in the charts. SHIB needs to burn nearly 90% of its circulating supply to even consider reaching the $0.01 mark. If that doesn’t happen, then SHIB might take years or even decades to hit the 1-cent milestone.
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