There is no denying the popularity of Shiba Inu (SHIB) among crypto fans and investors. This asset is one of the most successful projects in recent times. Since its launch in August 2020, until reaching an all-time high of $0.00008616 in October 2021, the price of SHIB increased by several million percent. Early investors made millions of dollars in profits with minimal capital.
While many believe the SHIB ship has sailed, others believe there is still time for success with dog-themed crypto.
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How to become a millionaire when Shiba Inu reaches $0.0006?
To have a million dollars of SHIB, when each token costs $0.0006, you will need approximately 1,666,666,666.67 (1.66 billion) tokens. The price of 1.66 billion SHIB is currently around $42,700. If successful, your portfolio will increase by approximately 2,241.9%.
While the price increase is commendable, the question is when SHIB will be able to reach the price of $0.0006.
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When will the asset reach $0.0006?
According to Telegaon, SHIB could reach the target of $0.0006 sometime in 2030. The platform predicts that SHIB will trade at a potential maximum price of $0.000712 in 2030. Despite the bullish outlook, the platform does not specify the month when SHIB could reach its goal.
Changelly analysts are slightly bearish on SHIB. The platform predicts that the dog-themed crypto will reach the $0.0006 level in October 2033.
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One of the most important catalysts for Shiba Inu’s (SHIB) incredible run in 2021 was Vitalik Buterin’s massive chip burn. Buterin received half of the asset’s supply at launch. Buterin, the co-founder of Ethereum, decided to burn 90% of the tokens he received. His actions led to a significant drop in supply and an increase in prices. If the SHIB team manages to undertake another massive burn, we could reach the $0.0006 target much sooner than expected.