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30 May 2024
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Ethereum

Shiba Inu: Can You Become a Millionaire With SHIB in 2024?

Shiba Inu (SHIB) is among the best-performing cryptocurrencies of the last four years. From its debut in August 2020 to its peak in October 2021, SHIB’s price rallied by many million percent. Many early investors made millions in profits and, in some cases, billions. However, SHIB has struggled to reclaim its 2020-21 momentum. While many hope to make it big with the popular dog-themed crypto, others are not so sure.

According to Changelly, Shiba Inu (SHIB) could hit a maximum price of $0.0000389961 in 2024, about 53.8% higher than current levels. To have one million dollars worth of SHIB at $0.0000389961 per coin, you would need about 25,641,025,641 tokens (25.6 billion).

Source: Changelly

The price of 25.6 billion SHIB tokens right now is about $650,000. The rise in the portfolio’s value would be around 53.8%.

Also Read: Shiba Inu: New Pattern Could Lead to a 280% Rally to 0.000088

Telegaon, on the other hand, is more bullish on Shiba Inu (SHIB). The platform predicts SHIB to hit a maximum price of $0.0000601 in 2024, a rise of about 137% from current levels. To have one million dollars worth of SHIB at $0.0000601 per coin, you will need about 16,638,935,108.2 tokens (16.6 billion). The price of 16.6 billion SHIB right now is about $421,797.

Therefore, it is possible to become a millionaire with SHIB in 2024. However, the investment capital is on the higher side.

Can Shiba Inu (SHIB) rally like it did in 2021?

shiba inu shib eclipse
Source: Twitter

Between 2020 and 2021, SHIB’s price rallied by many million percent. One of the most significant reasons for SHIB’s stellar performance is Vitalik Buterin’s massive SHIB burn. The Ethereum co-founder received half of SHIB’s supply upon launch. However, Buterin decided to burn 90% of the tokens he received. The sudden decrease in supply and a rise in adoption led to a massive price spike.

Also Read: Shiba Inu: You Can Become a SHIB Millionaire For $23

Hence, if SHIB can undertake a similar burn again, we may witness another massive rally, like in 2021.

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