After a lackluster performance in 2023, Shiba Inu (SHIB) appears to be turning things around. The asset was one of the best-performing cryptocurrencies last week, rising 227% on the weekly chart, 287.8% on the 14-day chart, and nearly 309% higher than last month. Additionally, the asset’s price has increased by 232.8% since March 2023. Still, SHIB faced a 9.8% pullback in the past 24 hours, reigniting fears of another price plunge.
However, as Bitcoin (BTC) approaches its 2021 peak, SHIB is also likely to hit a new all-time high. Bitcoin's latest gains have trickled down to other assets, causing gains across the market.
SHIB's 2020-2021 run made many early investors multi-millionaires and in some cases billionaires. While the asset has been in a downward trend since its 2021 highs, the recent rally has reignited investors' hopes of making it big with the popular meme coin.
If Shiba Inu (SHIB) hit $0.005, you would need 200,000,000 (200 million) tokens to have $1 million worth. The current price of 200 million SHIBs is approximately $7,342. If SHIB hit $0.005, your portfolio would grow by a massive 13,520.27%.
However, reaching the $0.005 target won’t be easy. According to Changelly, SHIB could break above the $0.005 level sometime between 2033 and 2040, approximately 9 to 16 years from now. Telegaon paints a similar picture for SHIB, predicting that the asset will reach $0.005 levels between 2035 and 2040.
However, the Shiba Inu (SHIB) team is working on a new burning mechanism that is rumored to be able to delete trillions of tokens every year. In this case, SHIB could reach the $0.005 price level sooner than expected.
