Shiba Inu (SHIB) could make $1 million out of $722 invested in the asset today if it ever captures the much-coveted $0.01 price target set by several analysts.

SHIB has continued to face significant declines amid the persistent market downturn. These declines have prevailed despite recent ecosystem developments around the Shiba Inu project, such as Shibarium and Shibacals.

Nonetheless, the recent market challenges have not dampened investor sentiment in the asset. Instead, the community continues to witness several bullish projections, with forecasts of price surges to $0.0001, $0.001, and even $0.01.

Shiba Inu at $0.01

While most community members have dismissed the $0.01 target as wishful thinking, others have continued to examine the potential of Shiba Inu to make millionaires out of investors if it clinches this threshold. 

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An investor would need to hold 100 million Shiba Inu tokens to sit on a $1 million investment should SHIB hit the $0.01 target. Interestingly, these 100 million SHIB tokens are currently worth less than $1,000 against prevailing rates.

Shiba Inu is changing hands at $0.00000722 as of press time amid a recent price decline. This decline has triggered angst and opportunity in the community, allowing investors to purchase more tokens at a discount.

Investors can amass the 100 million SHIB tokens with $722 at the current price of $0.00000722. Should SHIB skyrocket to $0.01 per token, this investment would present a profit of $999,278, marking a 138,404% return on investment (ROI).

Examining the Feasibility 

However, the possibility of Shiba Inu reaching $0.01 remains contested. Despite numerous projections of this price target, the road to the threshold features multiple challenges. Chief among these challenges is SHIB’s circulating supply.

Shiba Inu currently has a circulating supply of 579.7 trillion tokens, per data from Shibburn, a community-driven burn analytics resource. This extensive circulating supply is the primary resistance to Shiba Inu’s dream of clinching $0.01. 

If Shiba Inu reaches $0.01 with its current supply, this price surge will bring the asset’s valuation to $5.7 trillion. There is not enough money to back up this massive market cap. For context, the entire crypto market currently has a valuation of $1.09 trillion.

While the crypto scene remains unpredictable, the feasibility of seeing SHIB at $0.01 in the foreseeable future is highly unlikely. As a result, investors should manage their expectations properly when committing any funds to the asset.