A dad has explained how he became a millionaire in just six months after making a risky $8,000 bet on Shiba Inu. The former supermarket warehouse manager named Rob has been able to retire at the age of 35, after investing in the popular meme coin.
A crypto trader bought $17 of Shiba Inu in October 2020 – six months later this person had made $6.5 million. It's the stuff of dreams. No doubt stories like this are why more than one million people are holding Shiba Inu today.
Meme token Shiba Inu has been reaching “for the moon” with its price surging over 140 percent over the last week. The spike has made initial investors in the joke token billionaires. One such holder, who had invested $8,000 in Shiba Inu in August last year is now worth a whopping $5.7 billion.
Elon Musk in another tweet said that in order to be a millionaire you need 3 million Shiba Inu coins.
Who Owns the Highest Number of Shiba Inu Tokens? A former Ripple (XRP) whale owns the highest number of SHIB tokens in the world. On July 5, 2022, the mysterious and unidentified whale transferred his/her XRP holdings to SHIB worth $211 million.
Musk has long been a vocal advocate for crypto. He has said "paper money is going away" and believes that cryptocurrencies like Bitcoin (BTC 0.29%) are "ingenious." Musk is on record saying that he owns popular cryptocurrencies such as Bitcoin, Ethereum (ETH 0.46%), and Dogecoin (DOGE 1.97%).
Musk's direct advocation for the blockchain network is somewhat nuanced. On 24 October 2021, Musk said that he did not own any Shiba Inu, in response to a Shiba Inu-related Twitter account asking him how much SHIB he has. Musk just stated, “none” at the time.
By 2025, our price prediction forecasts that Shiba Inu (SHIB) could be worth $0.000043.
Shiba Inu Price Prediction 2024
After the analysis of the prices of Shiba Inu in previous years, it is assumed that in 2023, the minimum price of Shiba Inu will be around $0.0000163184. The maximum expected SHIB price may be around $0.000020068. On average, the trading price might be $0.0000169283 in 2023.
According to crypto analysts, if the crypto market rebounds to 2021 performance, Shiba Inu's price can reach $0.0001 in 2022. They also predict that the Shiba Inu price will touch $0.00015 by 2023, $0.0002 by 2025, and $0.01 by 2030, making an all-time hit.
Not making tons of millionaires
But as a matter of fact, Shiba Inu isn't making tons of millionaires at the moment. Only 39% of Shiba Inu holders are making money on their investments at its current price, IntoTheBlock data shows. And making money doesn't necessarily mean making a lot.
Billionaire Elon Musk known for his cryptocurrency endorsements has reiterated his holdings which are limited to Bitcoin, Ethereum and Dogecoin slyly revealing that he neither owns one of the most popular meme tokens Shiba Inu.
A $1 price target isn't likely
And at $1, Shiba Inu's market cap, assuming there are the same number of tokens outstanding, would total a whopping $549 trillion. Let's put this ridiculous figure in context. For comparison's sake, Apple, the world's most valuable company, has a current market cap of $2 trillion.
Kane Ellis: Kane Ellis is now a Bitcoin millionaire and even owns a Maserati. However, his fortune didn't come from investing. Instead, he took the backdoor and made his money through mining.
With supply continually going down, and demand on the rise, Shiba Inu is likely to test the $0.001 mark in 2030 for the first time since it was launched. This would cement Shiba Inu's position as one of the best performing cryptocurrencies ever made.
Can Shiba Hit 10 Cents? As per Shiba Inu price forecasts, SHIB will not hit 10 cents within the next 10 years.
Based on Shiba Inu's historical price performance, it is assumed that in 2023, the minimum price of Shiba INU may be around $0.0000119. The maximum expected SHIB price may be about $0.0000142. On average, the trading price may be around $0.0000124. From current prices, this would be over 50% ROI.
According to crypto analysts, if the crypto market rebounds to 2021 performance, Shiba Inu's price can reach $0.0001 in 2022. They also predict that the Shiba Inu price will touch $0.00015 by 2023, $0.0002 by 2025, and $0.01 by 2030, making an all-time hit.
According to TechNewsLeader's Shiba Inu coin price prediction for 2030, the token is expected to rise to an average price of about $0.00029591 by the end of 2030, representing an increase of over 2,500% at the time of writing.
For instance, digital asset specialist Telegaon has outlined a scenario in which Shiba Inu could surpass $5 by 2050.
It may seem valuable, considering its market cap, but its value is only entertainment-based. Keeping this in mind, it would not be wise to invest too much of your money in shib. The shiba inu crypto may help you make a quick buck if the price goes back up, but it is not a reliable long-term investment.
The founder of meme coin Shiba Inu goes by the name Ryoshi; very little is known of him. Similar to the founder of Bitcoin, Satoshi Nakamoto, they remain anonymous.
Elon Musk, the self-proclaimed Dogefather, continues to support the Shiba-Inu-themed Dogecoin community. Elon Musk has always been vocal about how he supports Dogecoin and Shiba-Inu-themed cryptocurrencies despite the recent lawsuit filed against him and his companies, Tesla and SpaceX.
Lack of liquidity in cryptocurrency markets. The biggest problem the crypto markets face when leveraged investors liquidate a large portion of their assets is the overall liquidity of the markets. Unlike in the stock market, there aren't always a bunch of buyers waiting to snatch up unloaded coins.