Can $1000 Investment in 2024 Make $1 Million in 2030?

Shiba Inu (SHIB) is one of the most popular cryptocurrencies in the market. The asset has made a name for itself by turning many early investors into multi-millionaires. From its launch in 2020 to reaching its all-time high in October 2021, SHIB’s price rallied by many million percent. However, the asset has fallen by over 71% from its 2021 peak.

Despite a significant price fall from its all-time high, investors and fans still hope to make it big with Shiba Inu (SHIB). If you invest $1000 into SHIB right now, you will receive around 40,000,000 (40 Million) tokens. According to Changelly, SHIB could hit a maximum price of $0.0003759624 in 2030. If SHIB hits $0.0003759624, the portfolio’s value would rise to around $15,000.

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Telegaon, on the other hand, anticipates SHIB to reach a maximum price of $0.000712 in 2030. In this scenario, the portfolio’s value would increase to $28,480.

How much Shiba Inu (SHIB) do you need to be a millionaire if it hits $0.0007?

To have $1 million worth of SHIB at $0.0007, you will need about 1,428,571,428.57 (1.42 Billion) tokens. The price of 1.42 billion SHIB right now is around $35,714.28. Therefore, you could become a millionaire with Shiba Inu (SHIB) by 2030 if you invest $35,714.28 in 2024.

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Nonetheless, there is also a possibility that an investor could become a millionaire much earlier, given that SHIB witnesses a positive market. Moreover, the project’s massive supply is one of the most significant barriers to SHIB’s price. The project needs to reduce its supply to aim for higher prices.

However, the Shiba Inu (SHIB) team has revealed they are working on a new burn mechanism, rumored to burn trillions of tokens yearly. If the team can reduce SHIB’s supply by a few trillion yearly, we may see the asset hit higher prices sooner than anticipated.