Can You Still Become a Millionaire with Shiba Inu Coin?
For everyone thinking that Shiba Inu could never hit the target prices mentioned and think it’s ridiculous for the coin to go to over $0.01 — I can see why people would run with that line of thought. The skeptics base that notion on the fact that the coin’s supply stands at over 589 trillion and that it’s impossible to hit the specified price point of $0.01 according to mathematical calculations.
However, the skeptics are deriving their calculations from the standpoint that the supply will remain the same at 589 trillion coins. While enormously high, Shiba Inu’s token supply can be burned — a process where coins are sent to unusable wallets and effectively taken out of circulation, reducing the overall pool.
According to a recent article posted in FX Empire, Shiba Inu is expected to undergo a massive burn in the upcoming weeks. By systematically reducing the available supply of Shiba Inu tokens, demand would presumably increase, causing prices to go higher.
In conjunction with token burns, Shiba Inu is now more widely adopted and tradable on nearly all significant cryptocurrency exchanges — Robinhood Securities pending.
Additionally, the recent announcements of NDA agreements signed with a top studio to develop a Metaverse game, coupled with the addition of top-tier talent from Activision, William David Volk joining Shiba Inu to spearhead the development, only further fuels the positive sentiment among investors. Currently, there are many more developments in the works for Shiba Inu (aside from those previously mentioned) that will ultimately improve the prospects of sending the cryptocurrency higher.
Shiba Inu presents a significant opportunity for risk-tolerant investors to get in at attractive price points. The scenarios above that show examples of how to potentially get $1 million investing in Shiba Inu, I believe, are possible. Still, it is ultimately up to investors to do the research, and draw their own conclusions as it pertains to their investment choices.
This article is strictly meant for informational purposes only. The piece is not intended to constitute investment advice. All opinions expressed are solely based on personal research.
There are risks when investing, even loss of principal. Any security or other type of investment’s past performance is not a guarantee of future investment performance.